Zack Shapiro Suggests Bitcoin Could Reach $1 Million with U.S. Purchase Plan

Attorney Zack Shapiro argues that if the U.S. acquires one million BTC, the price could skyrocket to $1 million per coin. This is based on the proposed Bitcoin Act, which could shift global economic strategies and enhance the U.S. balance sheet. Other experts share similar predictions, citing Bitcoin’s unique value propositions.

Zack Shapiro, an attorney at the Bitcoin Policy Institute, posited that an official U.S. announcement on purchasing one million BTC could propel the price to $1 million each. This assertion was made during a discussion with Matthew Pines and Zack Cohen, highlighting potential market ramifications from such government action.

The Bitcoin Act aims for the U.S. government to acquire one million BTC, representing 5% of total supply, funded by revalued gold. Initially introduced by Senator Cynthia Lummis in July 2024 and reintroduced in March, Shapiro believes this act could trigger significant market reactions, potentially skyrocketing Bitcoin’s valuation.

Shapiro indicated that U.S. acquisitions would prompt central banks and global financial institutions to revise their strategies regarding Bitcoin. As Bitcoin solidifies its status as a reliable store of value, it may undermine traditional assets like gold, leading to increased Bitcoin investments by central banks, which would further elevate its price.

Beyond mere price impacts, Shapiro noted that the U.S. economy would undergo transformative effects due to rising Bitcoin values. This acquisition could positively affect the federal balance sheet and allow private sector and mining companies to amass substantial wealth, thereby influencing global trade and economic power distributions in favour of the U.S.

Shapiro’s prediction of Bitcoin reaching $1 million is echoed by other notable figures. Eric Trump, at the Bitcoin MENA Conference, reiterated confidence in Bitcoin’s growth, citing its censorship resistance and limited supply as factors for its appreciation. Analysts, including Lyn Alden and asset manager Bernstein, share similar bullish forecasts, with expectations of the milestone being reached by 2035.