Bitcoin: In the world of cryptocurrency, doubt and skepticism seem to be as persistent as Bitcoin itself. No matter how high the price climbs, there are always voices questioning whether it can go any further. Recently, Bitcoin adviser Luke Broyles shared his thoughts on this enduring skepticism during a conversation on the Coin Stories podcast, reminding us that doubt is part of Bitcoin’s journey and likely always will be.
Bitcoin Could Reach $10 Million, But Doubt Will Remain
Broyles suggested that even if Bitcoin reaches astronomical figures $5 million, $10 million, or more critics will still argue it can’t go any higher. “I think it’s going to be that way for a very long time,” he said. He explained that the skepticism isn’t about Bitcoin’s fundamentals or technology but is largely psychological. Many people struggle to believe that this digital asset could genuinely impact their daily lives, which limits mass adoption.
Even during price corrections, when Bitcoin experiences short-term pullbacks, critics quickly assume the asset will never recover. Yet, history has repeatedly shown Bitcoin defying these expectations, climbing to new all-time highs against all odds.
Psychological Barriers Outweigh Technical Hurdles
While Bitcoin hit several new all-time highs this year most recently reaching $124,128 on August 14, 2025 it has since retraced to around $109,290. Broyles emphasized that the biggest hurdle isn’t technical but mental. For Bitcoin to achieve widespread adoption, people need to see tangible ways it can improve their financial lives.
He suggested that innovative applications, such as merging Bitcoin with real estate loans, could accelerate adoption faster than trying to convince skeptics to invest small amounts over time. “Like, is it going to be harder to convince somebody who’s more skeptical of Bitcoin to buy $1,000 of Bitcoin for the next 200 months? Or is it going to be, ‘Hey, you can refinance your home and convert this equity into Bitcoin?’ I think that is going to blow people’s minds,” Broyles said.
Understanding Still Holds the Key
One of the main obstacles to crypto adoption remains a lack of understanding. A 2024 survey by Australian crypto exchange Swyftx found that 43% of respondents hadn’t used cryptocurrency because they didn’t fully understand how it works. This knowledge gap continues to create hesitation among potential investors and limits Bitcoin’s reach despite its impressive gains.
Over the past 12 months, Bitcoin has surged 84%, showing that growth is possible even in the face of widespread skepticism. Broyles’ insights remind us that doubt is a natural companion of innovation and even as Bitcoin scales new heights, there will always be those who question its potential.
Bitcoin’s journey is not just about numbers on a screen. It is a story of human psychology, perception, and gradual adoption. While some skeptics may never fully embrace it, real-world integrations like merging with financial and real estate systems could finally make the possibilities tangible for everyone.
Disclaimer: This article is for informational purposes only and should not be considered financial advice. Cryptocurrency investments are highly volatile and involve risk. Always do your own research or consult a financial advisor before making investment decisions.
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