Michael Saylor Forecasts Bitcoin Price to Soar to $13 Million by 2045
Michael Saylor Predicts Bitcoin to Hit $13 Million in 21 Years, Citing MicroStrategy’s $12.8 Billion Stake as Proof of Strategy’s Success Over S&P Giants.
Key Takeaways:
- Michael Saylor predicts Bitcoin will reach $13 million per coin over a 21-year period.
- MicroStrategy, led by Saylor, holds 226,500 Bitcoins worth $12.8 billion.
- Saylor claims MicroStrategy's Bitcoin investment strategy has outperformed every company in the S&P index.
Michael Saylor, the outspoken co-founder of business intelligence company MicroStrategy, has once again made headlines with his bullish stance on Bitcoin.
Despite recent price fluctuations in the cryptocurrency market, Saylor remains optimistic, predicting a meteoric rise for Bitcoin over the next two decades.
MiceSaylor's Bold Bitcoin Prediction
In a recent interview with CNBC Squawk Box, Saylor made a striking forecast: “My long-term forecast is that [Bitcoin's] going to go to $13 million over 21 years.”
This ambitious prediction is based on Saylor's belief that Bitcoin will eventually represent 7% of global capital, up from its current 0.1%.
To achieve this target by 2045, Bitcoin would need to increase 23,417% from its current price of approximately $55,279.
Such a rise would catapult Bitcoin's market capitalization to $257.26 trillion, dwarfing its current valuation of $1.09 trillion.
However, Saylor's confidence in Bitcoin is not merely speculative. MicroStrategy, under his leadership, has become the largest public holder of Bitcoin, owning more than 1% of the total supply that will ever be created.
The company's Bitcoin holdings currently stand at 226,500 BTC, valued at approximately $12.8 billion.
This strategy, initiated in 2020 when Bitcoin was trading below $12,000, has proven highly lucrative.
Saylor boasted an 825% return on MicroStrategy's Bitcoin investment, outperforming even NVIDIA, which he noted has seen an 821% increase in the same timeframe.
“So we beat every single company in the S&P index using Bitcoin's strategy,” Saylor stated, highlighting the cryptocurrency's average yearly price increase of 44% compared to the S&P's 12% growth rate.
Saylor’s Bitcoin Prediction Aligns with Other Bullish Forecasts
Saylor's prediction is not an isolated optimism. It aligns with a growing trend of confident forecasts from various experts.
For instance, VanEck recently projected Bitcoin could hit $2.9 million by 2050, citing its potential role in global and domestic trade.
Similarly, analysts at Standard Chartered Bank have reaffirmed their projections, expecting Bitcoin to reach $150,000 by the end of 2024 and $200,000 by the end of 2025.
Geoffrey Kendrick, Standard Chartered's forex and digital assets research head, suggested Bitcoin could surge to $100,000 by November, potentially influenced by the 2024 U.S. presidential election.
Saylor also touched on the political discussion surrounding cryptocurrency.
He observed a shift in the Republican party towards a more progressive stance on crypto policy, while Democrats appear to be moving towards a middle ground.
This observation comes as crypto policy emerges as a significant topic for the upcoming U.S. presidential elections.