Bitcoin's (CRYPTO: BTC) price has more than doubled to about $63,000 over the past 12 months. That rally was mainly driven by the approval of the first spot price Bitcoin ETFs in January, the halving of Bitcoin in April, and the market's expectations for lower interest rates.

Those catalysts drove some investors to make some extremely bullish predictions regarding Bitcoin's future. Ark Invest's Cathie Wood believes its price could hit $3.8 million by 2030, venture capitalist Chamath Palihapitiya sees a price of $1 million by 2040-2042, and Fidelity claims that its price could reach a whopping $1 billion by 2028-2030.

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Source Fool.com