Bitcoin (BTC) Price Could Hit $1M as Fiscal Policies Drive Demand, Says Analyst

Mallers believes Bitcoin's scarcity and global demand position it as the ultimate hedge against economic instability.

Analyst Robert Mallers is bullish on Bitcoin, viewing it as the ultimate hedge against economic instability due to its scarcity and global demand. He anticipates that seven-figure prices for BTC are possible, driven by substantial fiscal moves or large-scale purchases, such as America acquiring 4 million BTC.

Alternatively, Mallers considers $250,000 to be a reasonable mid-term target for Bitcoin under favorable conditions.

Rising debt levels and limited fiscal options are fueling Mallers' optimism for Bitcoin. He highlights the U.S. debt-to-GPD ratio, which is approaching 130%, and global debt, which exceeds 300% of GPD. Mallers asserts that the mounting debt will inevitably lead to losses, likely manifesting through currency debasement or asset inflation.

“If bondholders aren't rendered poor, we'll see additional currency debasement,” Mallers explains. In this scenario, Bitcoin, with its fixed supply of 21 million coins, emerges as the “hardest asset” to produce and inflate.

According to Mallers, these conditions are setting the stage for one of the largest asset bubbles in history, with Bitcoin poised to be the top performer due to its scarcity and decentralized nature.

In terms of technical analysis, Bitcoin is currently trading at $105,000, down 1.6% over the past 24 hours, with a trading volume of $77.5 billion. On the monthly chart, BTC is maintaining its upward trajectory within a rising channel after breaking above the double-top pattern near $75,000.