Bitcoin Will Reach IDR 1.2 Billion by the End of 2024, Here Are the Signs

The world’s largest crypto asset, Bitcoin has a greater upside potential than tech stocks, including Nvidia. However, Bitcoin is still riskier than tech stocks.

As reported by Yahoo Finance, Monday (23/9/2024), Nvidia experienced a very large increase in market capitalization, almost USD 3 trillion or equivalent to IDR 45,482 trillion (assuming an exchange rate of IDR 15,160 per US dollar), and is ready to achieve impressive profits for years, thanks to growth opportunities in artificial intelligence (AI).

Nvidia has outperformed Bitcoin this year, and it’s not even close. In 2024, Nvidia is up about 130 percent, while Bitcoin is up only 40 percent. Additionally, Nvidia has outperformed Bitcoin over the past 12 months, 18 months, and 24 months.

Over the past two years, Nvidia is up 764 percent, compared to Bitcoin’s 209 percent. Stocks are not valued based on their past performance, but rather their future performance.

So, this is where Bitcoin’s upside potential is so impressive. Simply put, the further investors extend their price forecasts into the future, the better off Bitcoin is.

For example, investment firm Bernstein predicts that the price of Bitcoin could triple to USD 200,000 by the end of 2025.

A growing number of Silicon Valley tech leaders are predicting that Bitcoin could reach $1 million in the next few years, with Ark Invest’s Cathie Wood predicting that Bitcoin could reach $3.8 million by 2030.