Will the price of Bitcoin reach $1 million within 10 years? Is the era of "one coin, one villa" coming?

Wences Casares, CEO of Bitcoin wallet Xapo and a member of PayPal’s board of directors, made an interesting prediction about the value of Bitcoin in the next decade.

The bitcoin entrepreneur spoke at the Consensus 2017 conference in New York, and his speech sparked a lot of discussion.

Casares brought Bitcoin to the center of the conversation, saying that "the Internet has no currency and it desperately needs one," referring to Bitcoin, the world's most popular cryptocurrency.

He told conference participants:

The biggest mistake is to buy too much Bitcoin and not be able to afford to lose it. Another mistake is not to own any Bitcoin.

Casares encouraged new investors to embrace the cryptocurrency:

Put 1% of your net worth in Bitcoin, forget about it, and come back to it in 10 years.

He also made a prediction about the price of the cryptocurrency during his speech, saying that within the next 10 years, the price of a single Bitcoin could reach 100万美元.

Casares has always been a tech entrepreneur. As the founder of Argentina's first Internet service provider, he was also one of Bitcoin's early evangelists. He also built a retail bank in Brazil before launching Bitcoin wallet Xapo. In early 2016, Casares joined PayPal's board of directors because the payment giant considered him "a recognized thought leader in the next generation of payments and cryptocurrency."

Casares’s statement is the most confident prediction of Bitcoin price. In April, Snapchat’s early investor Jeremy Liew and Blockchain CEO Peter Smith predicted that Bitcoin price would reach $500,000 before 2030, and Casares’ prediction is obviously “better”.

Whether these predictions will come true remains to be seen. However, a prediction made at the end of 2016 has come true. Danish investment bank Saxo Bank predicted that the price of Bitcoin would rise by 165% (the price was around $750 at the time) and would exceed $2,000 in 2017. Yesterday, the price of Bitcoin exceeded $2,200, and as of press time, the price of Bitcoin is still rising.