Key Takeaways
- Former Trump adviser Thor Torrens argues that Bitcoin will never hit a $1 million valuation.
- Despite skepticism, prominent Bitcoin advocates still believe in a seven-figure valuation.
- Analysts say Bitcoin remains in a corrective phase.
A former adviser to U.S. President Donald Trump has cast doubt on long-standing bullish forecasts that Bitcoin could eventually reach $1 million, arguing that advances in AI will make it too transparent to support such valuations.
Thor Torrens, a technology entrepreneur who has previously advised Trump-aligned political efforts, said in a post on X this week that Bitcoin’s public ledger would ultimately cap its upside.
“Bitcoin is never going to $1,000,000 a coin,” Torrens wrote.
When asked to explain his reasoning, he added: “Public ledger. Too traceable now with AI, everyone will realize soon.”
Torrens’ Bitcoin Price Comments Spark Backlash
Torrens’s remarks quickly drew sharp criticism from X commentators, with several dismissing his argument as technically flawed.
One user described the statement as “moronic,” writing: “There is no such thing as privacy moron. You keep thinking your tokens are private when you use them from a mobile phone or a computer. This is a scam thesis to shill tokens.”
Another critic said that Bitcoin’s traceability was not a new development.
“Dumbest statement I’ve heard in a while,” the user wrote. “It’s always been traceable. The degree is what’s changed. Non-KYC to KYC requirements is the impact, not AI.”
What Torrens Appears to Mean — And Why Critics Disagree
Bitcoin transactions are recorded on a public blockchain, allowing anyone to view transfers between wallet addresses.
While identities are not explicitly attached, advances in blockchain analytics and AI-advancements have made it easier for firms and law enforcement agencies to link addresses to real-world actors.
Torrens appears to argue that accelerating AI-driven analysis will erode perceived financial privacy, reducing Bitcoin’s appeal as a store of value and limiting its long-term price potential.
Critics, however, say this misunderstands Bitcoin as a whole.
Bitcoin has always operated on a transparent ledger and that increased traceability has coincided with, rather than hindered, broader institutional adoption.
Others argue that regulatory compliance and know-your-customer rules — not AI— have had a far greater impact on user anonymity.
Bitcoin Bulls Still See Path To $1 Million
Despite Torrens’ comments, several prominent Bitcoin advocates continue to argue that a seven-figure price is achievable over the long term.
BitMine’s Tom Lee has repeatedly said Bitcoin could rise above $1 million in the future.
Michael Saylor, executive chairman of Strategy, has also long maintained that Bitcoin could eventually exceed $1 million per coin.
Samson Mow, chief executive of Pixelmatic, has also publicly supported a million-dollar valuation.
In a post on X in March, Mow said his models point to Bitcoin reaching $1 million by 2031.
“Since getting into Bitcoin, what I’ve consistently found is that everything always happens faster than I expect,” Mow wrote.
Bitcoin Price Outlook
From a technical perspective, Bitcoin remains under pressure after a dramatic fall to $76,000, despite a modest rebound.
Victor Olanweraju, CCN analyst, noted that the decline has been driven by clear technical breakdowns.
Bitcoin first lost the 0.382 Fibonacci retracement level around $93,300, before failing to reclaim the 0.236 level near $85,500, which he said has now turned into “firm resistance.”
“In short, BTC remains in a corrective phase,” Olanrewaju said. “Until price reclaims $85,477, Bitcoin’s price might keep falling.”
However, he added that a successful reclaim of that resistance could alter the outlook.
“If it flips this resistance, things could change, and Bitcoin’s price might hit $93,290.”
Kurt Robson is a London-based reporter at CCN, specialising in the fast-moving worlds of crypto and emerging technology. He began his career covering local news in Cornwall after graduating from Falmouth University with First Class Honours in Journalism. There, he cut his teeth on everything from council meetings to missing swans.
He quickly rose through the ranks to become a frontline journalist at several of the UK’s leading national newspapers. Over the years, he has interviewed musicians and celebrities, reported from courtrooms and crime scenes, and secured multiple front-page exclusives.
Following the upheaval of the COVID-19 pandemic, Kurt shifted his focus to technology journalism—just ahead of the AI boom. With a natural curiosity and a trained eye for emerging trends, he has found a new rhythm in reporting on innovation.
At CCN, Kurt's work focuses on the cutting edge of crypto, blockchain, AI, and the evolving digital world. Drawing on his background in people-first reporting and his deep interest in disruptive tech, Kurt delivers stories that are insightful, entertaining, and human-centric.
