Dragonfly Capital managing partner Haseeb Qureshi sees almost no chance of Bitcoin reaching $1 million by 2030, arguing that such a move would require an enormous influx of new capital. He considers $300,000 to $400,000 a more realistic range. He is also cautious about Bitcoin reaching $100,000 by the end of 2026, saying a gain of roughly 30% would be difficult in the current macroeconomic climate.
Speaking on Cointelegraph’s Trade Secrets, Qureshi said crypto prices are being shaped by macroeconomic uncertainty, stablecoin developments and a sell-off in artificial intelligence (AI) stocks. Bitcoin, Ether and stablecoins have won relatively broad regulatory acceptance in the US, but progress on the Clarity Act has stalled, with the legislation’s implications most relevant to altcoins, decentralized finance (DeFi) and trading platforms.
AI stock losses add to pressure on Bitcoin
Qureshi linked Bitcoin’s recent weakness to a broader market decline. The Nasdaq fell more than 5%, while some AI-related stocks dropped 15% to 20%. When risk assets are under pressure across markets, cryptocurrencies are unlikely to remain insulated from equity-market volatility.
He also said investment in AI could slow if data-center construction is constrained, potentially weighing on economic growth. In Qureshi’s view, crypto is not the main story in financial markets this year; its performance is being influenced more by AI investment and the wider economic backdrop. Bitcoin could therefore remain volatile until AI capital spending and macroeconomic conditions become more stable.
Clarity Act delay leaves altcoins and platforms in focus
Qureshi said Bitcoin, Ether and stablecoins have gained relatively broad regulatory acceptance in the US. By contrast, the stalled Clarity Act has more direct implications for altcoins, DeFi projects and crypto trading platforms. The regulatory questions facing the sector are not uniform: the boundaries depend on the assets and business models involved.
He did not present regulatory developments as the sole driver of recent price moves. Instead, he pointed to macroeconomic conditions, the performance of AI-related stocks and stablecoin growth as factors to watch. Bitcoin’s near-term price action may continue to respond to developments beyond the crypto sector.
Qureshi sees Bitcoin challenging gold over 15 to 20 years
Over a longer horizon, Qureshi said Bitcoin could challenge gold over the next 15 to 20 years. He cited Bitcoin’s capped supply of 21 million coins, compared with the potential for gold’s supply to keep growing, as one basis for that view.
He also cautioned that advances in AI and cryptography could create security risks. Bitcoin’s scarcity and growing adoption are part of the long-term case, but those technological risks remain relevant. Qureshi’s view on the $1 million target is unchanged: reaching that level would require an exceptionally large inflow of new capital, and he considers it almost impossible by 2030.