Highlights:
- Michael Saylor predicts Bitcoin could hit $13 million by 2045.
- In an extended rally, he predicts BTC might hit $49 million.
- His forecast coincides with a significant rally in the broader crypto market and Bitcoin’s price.
Delivering a keynote address on July 26 at the Bitcoin 2024 conference in Nashville, Michael Saylor, co-founder of MicroStrategy business intelligence giant, predicted Bitcoin could hit $13 million by 2045 in his base case scenario. Saylor highlighted that with Bitcoin priced at about $65,000, its market cap is $1.3 trillion, representing just 0.1% of global wealth.
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JUST IN: Michael Saylor says his bull case for #Bitcoin is $49 million by 2045 pic.twitter.com/9QqQfaNUzp
— Bitcoin Magazine (@BitcoinMagazine) July 26, 2024
He explained that for BTC to hit $13 million by 2045, it would need a 29% annual return. At that price, its market cap would reach $280 trillion, making up 7% of global wealth. In a bullish scenario, Saylor sees Bitcoin rising to $49 million, capturing 22% of global wealth. Even in a bearish case, it could still reach $3 million, representing 2% of global wealth. Saylor urged listeners at the conference to become “triple maxi” Bitcoin bulls.
He stated:
“You financed the house for Bitcoin, you buy Bitcoin, you flip all your assets to Bitcoin, and then you move to a cheap tax jurisdiction where you actually can avoid some taxes and invest an extra fifty grand in Bitcoin.”
Saylor has always been bullish on BTC. Under his leadership, MicroStrategy has acquired 226,331 Bitcoin over the past four years, currently worth around $15 billion. This reflects an 80% gain over the original purchase price. Meanwhile, Saylor’s latest prediction aligns with his long-standing optimistic view, forecasting substantial growth for Bitcoin despite its volatility. His recent comments have also sparked investor discussions amid a broader cryptocurrency market rally and rising BTC prices.
MicroStrategy has acquired an additional 11,931 BTC for ~$786.0M using proceeds from convertible notes & excess cash for ~$65,883 per #bitcoin. As of 6/20/24, $MSTR hodls 226,331 $BTC acquired for ~$8.33B at average price of $36,798 per bitcoin.https://t.co/jE9dGqqnON
— Michael Saylor⚡️ (@saylor) June 20, 2024
Saylor Advocates Bitcoin as a Superior Asset
Saylor highlighted the global economy’s dependence on “imperfect assets and systems,” positioning Bitcoin as a superior alternative. He believes all physical assets, like stocks, bonds, Ferraris, and real estate, are subject to the laws of thermodynamics, including entropy, which causes energy to decline over time. He argues that Bitcoin’s value remains unaffected by factors like war and catastrophe.
Saylor suggested that BTC held by a custodian could last 1,000 years, self-custodied Bitcoin for up to 10,000 years, and Bitcoin managed by AI for 100,000 years. Additionally, he said the U.S. government should secure most of the world’s Bitcoin, believing it would strengthen the dollar. He added, “Bitcoin is immortal, immutable, and immaterial, […] and it is the solution to our economic dilemma.”
Market Optimism Amid Price Surge
Saylor’s comments come as Bitcoin’s price surged past $68,000 today. This rise is driven by excitement around the Bitcoin Conference and former President Donald Trump’s expected appearance. David Bailey, CEO of Bitcoin Magazine, speculated that Bitcoin might reach a new high during Trump’s speech at the event. During writing, BTC price was up 1.5% and exchanged hands at $68,266, with its trading volume declining 30% to $24.32 million from yesterday. Additionally, Bitcoin Futures Open Interest jumped nearly 3%, signalling strong market confidence in the leading cryptocurrency.
Saylor expressed his excitement about Bitcoin’s price rebound on X, stating: “Don’t miss the liftoff.” This brief yet powerful message reflects his confidence in Bitcoin’s future and encourages the crypto community to remain focused as Bitcoin progresses.
Don't miss liftoff. #Bitcoin pic.twitter.com/cEWhC7v3GZ
— Michael Saylor⚡️ (@saylor) July 26, 2024
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