Bitcoin Could Surge 870% to $1M as Strike CEO Predicts Asset Bubble

Strike CEO Predicts Bitcoin’s Path to $1 Million

Jack Mallers, CEO of payments app Strike, envisions a bullish future for Bitcoin (BTC), forecasting prices could soar as high as $1 million—an 870% gain from current levels.

In a recent interview with Wall Street veteran Anthony Scaramucci on the Wealthion YouTube channel, Mallers highlighted critical factors behind this optimistic outlook.

Mallers believes Bitcoin’s scarcity and global demand position it as the ultimate hedge against economic instability. He states that significant fiscal moves by the incoming Trump administration or large-scale purchases—like America buying 4 million BTC—could push the price to seven figures.

Alternatively, he sees $250,000 as a reasonable mid-term target under favorable conditions.

Fiscal Policies and Rising Debt Drive BTC Optimism

Mallers points to worsening U.S. and global fiscal conditions as a key driver for Bitcoin’s upward trajectory. The U.S. debt-to-GDP ratio hovers near 130%, while global debt exceeds 300% of GDP. Mallers emphasizes that the mounting debt will inevitably result in losses somewhere in the system, likely through currency debasement and asset inflation.

He further explains: “If bondholders aren’t rendered poor, we’ll see additional currency debasement.” Bitcoin, with its fixed supply of 21 million coins, remains the “hardest asset” to produce and inflate.

Mallers argues that these conditions could fuel one of the largest asset bubbles in history, with Bitcoin emerging as the top performer due to its scarcity and decentralized nature.

Bitcoin Technical Analysis

Bitcoin is trading at $105,000, down 1.6% in the last 24 hours, with trading volume steady at $77.5 billion. On the monthly chart, BTC maintains its upward trajectory within a rising channel after breaking above the double-top pattern near $75,000.

This breakout was accompanied by a bullish engulfing candle, a clear indicator of strong buying pressure that continues to drive the trend higher.

The immediate resistance is at $120,000, a level that could determine Bitcoin’s next move. A successful close above this zone may open the path to $150,000 in the coming months, with projections for $1 million remaining part of longer-term discussions tied to global adoption and economic factors.

On the support side, $75,000 remains a key level, while a sharper decline could find buyers around $38,000. The 50 EMA at $43,400 reinforces the broader uptrend, suggesting structural strength remains intact.

Meanwhile, the RSI at 77 points to overbought conditions, signaling the possibility of short-term corrections. Traders should closely watch the $120,000 level, as a clean break above it could mark the start of Bitcoin’s next significant rally.