Key Takeaways
- Brad Mills projects a 100X Bitcoin price increase in 10-20 years due to institutional and national adoption.
- The US has established a Strategic Bitcoin Reserve, signaling a policy shift to long-term government holding.
- Analysts debate whether Bitcoin will follow historical cycles or enter a new phase of growth driven by macroeconomic forces and institutional demand.
Bitcoin maximalist Brad Mills envisions a dramatic 100X price increase for Bitcoin within the next 10 to 20 years, attributing this outlook to a convergence of institutional adoption, halving-driven scarcity, and advancements in retail-focused technology.
Mills describes the current era as a “SaylorCycle,” referencing Michael Saylor’s influence and Strategy’s massive 592,100 BTC treasury as key drivers of long-term growth.
Mills argues that Bitcoin’s transformation from an “illegitimate asset” to a “must-own asset” is underway, with both corporations and nation-states accumulating it as a strategic reserve.
He points to El Salvador’s 6,209 BTC and Saylor’s vision of a $200 trillion Bitcoinized economy as evidence of mounting momentum.
Halving, supply cap, and retail innovation
Mills bases his 100X forecast on Bitcoin’s 21 million supply cap, four-year halving schedule, and rising demand.
He highlights that Square, part of Block, Inc., plans to roll out Lightning Network payments by 2026, potentially halving merchant fees and boosting transaction volumes.
Privacy-focused eCash mints like CashuBTC are also enabling scalable, private retail saving in sats, making it easier for small savers to accumulate bitcoin.
US strategic reserve and shifting macro forces
The US government’s establishment of a Strategic Bitcoin Reserve with 200,000 BTC marks a significant policy change, signaling a shift to long-term holding rather than selling seized bitcoin.
The reserve, created under President Trump’s 2025 executive order, authorizes further accumulation through asset swaps and sovereign mining, aiming for a budget-neutral expansion approach.
Analysts such as Pav Hundal suggest that institutional adoption has lessened Bitcoin’s historical volatility, while Adam Back contends that the market may soon enter a “parabolic breakout” phase, challenging traditional models like Stock-to-Flow and the Power Law.
Mills claims:
“Bitcoin could 100x in 10-20 years.”
However, he acknowledges that regulatory clarity and ongoing institutional demand will be critical to realizing this prediction.
