Bitcoin has surged in the past week and is now approaching the $31,000 mark. Several analysts have predicted that Bitcoin will continue to rise in the coming years, with some even suggesting that it could reach $1 million in the next 10 years.

Yassine Elmandjra, an analyst at Ark Invest, believes that Bitcoin has been the best-performing asset of the past decade. He thinks that depending on risk adjustments, Bitcoin could yield between 2.5% to 6.6%, which could translate to above $1 million in the next 10 years.

Elmandjra highlights Bitcoin's resilience despite market uncertainty and financial chaos, pointing to the fact that Bitcoin is in the same breath as gold as a store of value. He notes that although a 20-fold increase might sound too optimistic, it is achievable based on Bitcoin's origin.