Speaking to Express.co.uk bitcoin pioneer Max Keiser said: “The demand for bitcoin is growing almost exponentially while supply is mathematically locked at 900 and in fact, in 2024, the supply gets cut in half again to 450. This is why I think institutions that are buying will do so directly from miners and the public won’t have a chance to buy any. The public will be shut out as the price rockets to $1,000,000 (£752680.50) per coin.

“Meanwhile, Generation Z who bought lots of bitcoin when it was under $100 (£75.27), will be the new global power elite.

“The world order is about to flip.”

Studying the daily demand for bitcoin from the world’s major exchanges, the current estimated average daily demand far outweighs the daily supply created by mining bitcoin.

The daily demand on exchanges amounts to 2,600 bitcoin, whereas the supply from mining is only 900 bitcoin.

READ: Bitcoin prices surge to over $10,000 as investors ditch other cryptocurrencies

“Where would Cash App get theirs?

“That’s where the finite-supply, inelasticity part comes in, at a higher price.”

Bitcoin expert Dan Held gave a list of the financial institutions “and trading legends” that recognise bitcoin is the new gold.

Mr Held tweeted the following names and institutions, “Fidelity, JP Morgan, Bloomberg, Deutsche Bank, Citibank, Jeffries, Blackrock, Susquehanna, Jump Trading, Paul Tutor Jones and Stanley Druckenmiller”.

A follower of Mr Held tweeted: “Bitcoin will divide people into two groups.

“In those who have it and those who want it.”