The buzz around the potential approval of a Bitcoin ETF (exchange-traded fund) has set tongues wagging in the crypto community. With this fund giving investors access to Bitcoin without needing to own the asset directly, experts are predicting a massive capital influx with transformative implications for the industry. Notably, pros such as Samson Mow and Raoul Pal predict Bitcoin’s price could rocket to an eye-watering $1 million.

JAN3 CEO Samson Mow has voiced his expectancy for a rally that soars past previous records, breaking the traditional four-year Bitcoin cycle. He proposes that a mixture of supply, demand, and price shocks could drive an unprecedented price hike. To him, the approval of spot ETFs will channel a tide of US institutional capital into Bitcoin; resulting in a swift increase in price. He predicts that this sudden capital inflow into a limited supply of Bitcoin will cause a rapid price escalation that could catapult Bitcoin to $1 million.

Equally optimistic, Real Vision’s Raoul Pal has pointed to two significant secular trends – business cycles and financial conditions – that are set to hugely impact asset prices. Throwing his hat into the ring, Pal suggests that Bitcoin could hit somewhere between $500,000 to $1 million by the close of 2025. He credits his belief to the high-risk adjusted returns in cryptocurrency versus other investments, citing the asset’s high correlation with global liquidity trends.

Also, Pal has acknowledged the influence of the Bitcoin halving cycle and its relation to global debt refinancing and election cycles. He postulates that, combined with the anticipation of an ETF, these macro factors could likely boost Bitcoin to new heights.

All in all, the crypto community is abuzz with the potential game-changing impact of Bitcoin ETFs. As long as authorities give the green light, the journey to $1 million for Bitcoin might just be getting started.