Sigma Capital CEO Warns of Bitcoin Price Drop, Predicts $1 Million Target

Sigma Capital’s Vineet Budki has cautioned about potential Bitcoin price declines to a range of 70%, despite expecting long-term value exceeding $1 million per BTC. This warning raises concerns about market volatility and its impact on institutional and retail investors’ strategies. Budki, while speaking at the Global Blockchain Congress in Dubai, attributed this forecast to the lack of understanding regarding Bitcoin’s utility among investors. He highlighted that long-term Bitcoin value will be driven by adoption and utility rather than solely price.