Michael Saylor reveals the main Bitcoin price forecast
Michael Saylor, CEO of MicroStrategy, predicted waves at the Bitcoin Conference in Nashville, predicting that Bitcoin's market capitalization will grow to $280 trillion by 2045, an optimistic forecast that represents an increase of more than $1 trillion from the current market cap. It can cover cultural assets such as art and gold.
Saylor's Bitcoin Advocacy
Known for his bullish stance on Bitcoin, Saylor owns more than $1 billion in Bitcoin, while MicroStrategy holds 226,000 Bitcoins, worth an estimated $15.3 billion. In a keynote address to an audience of thousands, Saylor emphasized Bitcoin's potential longevity compared to other assets, arguing that digital capital can extend beyond physical assets.
He stated that the current market cap of Bitcoin is $1.3 trillion, which is only 0.1% of the global wealth. He predicted that in the base case, Bitcoin could reach $13 million, representing 7% of world wealth, with a market capitalization of $280 trillion and an annual return of 29%.
In a dramatic scenario, Bitcoin could grow to $49 million, or 22 percent of global wealth. Even in a difficult situation, Bitcoin can still reach $ 3 million, which is 2% of the global wealth. Currently, Bitcoin is at $67,884.83, up 4.84%.
“The Little Orange Estate”
Saylor highlighted the global economy's reliance on “imperfect assets and systems,” positioning Bitcoin as a superior alternative. He believes that the value of Bitcoin has not been depleted by factors such as war and destruction. It suggests that a bitcoin held with a guardian can last a useful life of 1,000 years, a bitcoin held by itself 10,000 years, and a bitcoin held by an AI 100,000 years. He also pointed out that the US government should protect the majority of the world's bitcoins. He believes it will boost the dollar's strength and prospects.
The micro strategy of Bitcoin
MicroStrategy started buying Bitcoin in 2020 following the market crash following the pandemic. The company has steadily increased its Bitcoin holdings, recently adding 12,000 Bitcoins to its balance sheet. Saylor repeatedly points to a microstrategy's stock price as an indicator of the strategy's success.
Conference atmosphere
Having said that, the conference in Nashville was full of passion, with attendees focused on Bitcoin's long-term potential rather than its current value. The community's enthusiasm shows growing acceptance and support for Bitcoin's future, bolstered by Saylor's ambitious speculation and ongoing investments.
Moreover, Bitcoin is gaining political support, which shows that times are changing and suppressing crypto will affect the world's largest economy.
