Former MicroStrategy CEO Michael Saylor made three potential predictions for Bitcoin by the time it reaches 2045. He predicted a bear case where Bitcoin could reach $3 million per coin, a base case of $13 million, and a bull case of massive $49 million per coin.
Saylor’s comments come at a time when more institutions are gaining exposure to the crypto market through Bitcoin and MSTR remains dependent on BTC performance. Saylor has often discussed BTC’s role in fighting inflation but Bitcoin’s long-term value has a deeper bet.
Bitcoin could reach $13 million valuation per coin
At the Bitcoin 2024 Conference, former MicroStrategy CEO Michael Saylor made a bold forecast for Bitcoin (BTC). According to him, over the next two decades, there could be three potential scenarios for the largest cryptocurrency by market cap.
The first case is a bear case of Bitcoin price reaching $3 million per coin. Saylor’s base case is of $13 million per coin, and a bull case of a staggering $49 million per coin by 2045.
Interestingly, Saylor’s base case prediction is almost a 30% increase from his previous projection of $10 million. In June this year, the former chief of MSTR called Bitcoin an “economic immortality” in a podcast while predicting its journey to $10 million.
A $10 million price point pushes BTC’s market capitalization to around $210 trillion on a fully diluted basis. At a 21 million cap, Bitcoin’s market cap can propel to $273 trillion. Meanwhile, considering Bitcoin has not even touched $1 million in value, the implications of a bull case valuation can potentially reshape the global financial market by 2045.
$13M is the #Bitcoin Base Case. pic.twitter.com/0Wz60P2C5n
— Michael Saylor⚡️ (@saylor) July 27, 2024
The annualized rate of return for Bitcoin under Saylor’s predictions range from 21% to 37% by 2045. If Bitcoin reaches a price point of $49 million by 2045, it’ll form 22% of all assets by touching a capitalization of $1,000 trillion as per Saylor.
Saylor eyes Bitcoin holdings by corporations
In several posts on X, Saylor underlined his bullish stance on Bitcoin. He cited investor Bill Miller who believes there is a growing trend of companies integrating Bitcoin into their balance sheets as a strategic treasury asset.
The former CEO of MicroStrategy has often suggested that BTC plays a role as a hedge against inflation. He reposted, “We now have additional companies coming out and saying we’re going to put #Bitcoin on our balance sheet as a strategic treasury asset,” a statement originally made by Bill Miller.
Saylor has also been taking every opportunity to point to Bitcoin’s public mention. He recently welcomed former President Donald Trump’s proposal to adopt Bitcoin as a strategic reserve asset for the United States if he is elected. In response, Saylor called it a “historic move” which “shows that #Bitcoin is winning.” Saylor hints at these developments to probably say Bitcoin serves as a solution to inflation and could become a strategic reserve asset on a national scale.
MicroStrategy has made a strategic BTC bet
MicroStrategy Inc. (MSTR), under Saylor, became the largest public holder of Bitcoin. As of June 21, the data by Bitcoin Treasuries notes that the company holds 226,331 coins. At the time of writing, MSTR stock price is close to $1,620 and the market capitalization has surpassed $28 billion. If Saylor’s predictions comes true, MicroStrategy’s bet on Bitcoin will massively escalate the company’s valuation and enterprise value, which at press time stands at $33.42 billion.
Since first reporting its BTC balance on August 11, Bitcoin’s value relative to USD has surged by 456%. When compared to Bitcoin, the stock price has increased by 135%. The math seems to suggest that the return on BTC investment could further snowball the stock price.
Therefore, it’s important to point out that Saylor has a vested interest in Bitcoin’s price increase. And so all potential price surge and bull predictions should be viewed with that in mind. That said, over the last year, Bitcoin has increased its value by 127% as per CoinGecko analysis.
Earn more CFN tokens by sharing this post. Copy and paste the URL below and share to friends, when they click and visit Parrot Coin website you earn: https://cryptoforum.news0
CFN Comment Policy
Your comments MUST BE constructive with vivid and clear suggestion relating to the post.
Your comments MUST NOT be less than 5 words.
Do NOT in any way copy/duplicate or transmit another members comment and paste to earn. Members who indulge themselves copying and duplicating comments, their earnings would be wiped out totally as a warning and Account deactivated if the user continue the act.
Parrot Coin does not pay for exclamatory comments Such as hahaha, nice one, wow, congrats, lmao, lol, etc are strictly forbidden and disallowed. Kindly adhere to this rule.
Constructive REPLY to comments is allowed