Michael Saylor Says Bitcoin Will Reach $13 Million By 2045

Yolowire 10-Sep-2024 9:58 AM

Notorious crypto bull Michael Saylor says that the price of %Bitcoin (CRYPTO: BTC) could reach $13 million U.S. by the year 2045.

Saylor, who is executive chairman of %MicroStrategy (NASDAQ:MSTR), made the bold prediction about the long-term price of Bitcoin during an appearance on financial television network CNBC.

The forecast drew considerable attention on social media, where it is being both praised and criticized as outrageous on X / Twitter.

Saylor said on CNBC that Bitcoin could reach $13 million U.S. in the next 21 years if several catalysts come into play for the largest cryptocurrency by market capitalization.

Specifically, Saylor said that Bitcoin will eventually trade at S&P 500 volumes plus 8% due to its open approach to capital markets.

Saylor added that Bitcoin will likely grow from comprising 0.1% of the world’s capital to 7%, with more institutions and banks dealing in the cryptocurrency in coming years.

Michael Saylor is one of the world’s biggest crypto advocates. His firm, MicroStrategy, is the world’s largest corporate holder of Bitcoin.

At the end of June this year, MicroStrategy owned 226,331 Bitcoin worth $12.97 billion U.S. based on the current price of the largest cryptocurrency.

While technically a provider of enterprise software, MicroStrategy has switched its focus in recent years and adopted an aggressive Bitcoin-buying strategy.

The company’s stock split on a 10-for-1 basis in August of this year and currently trades at $124.82 U.S. per share, up 264% over the last 12 months.