Michael Saylor, the executive chairman of MicroStrategy and one of the most prominent advocates for Bitcoin, has made a bold prediction: Bitcoin could reach $13 million per coin within the next 21 years. This forecast is based on his belief that Bitcoin will capture up to 7% of the world's global capital, making it one of the most valuable assets globally.
On September 9, 2024, Bitcoin was trading just under $55,000 after experiencing a 2% increase in the past 24 hours. In an interview with CNBC, Saylor stated that the price of Bitcoin would increase by 70 times its current value, placing it at nearly $4 million per coin in the near future. He attributes this rapid growth to the increasing global adoption of Bitcoin, which he believes is inevitable.
Saylor explained that Bitcoin’s superiority over other financial assets is evident in its technological foundation and ability to deliver high returns. Since MicroStrategy first started buying Bitcoin in August 2020, Bitcoin has provided an impressive average annual return of 44%. Comparatively, the S&P 500 has offered 12% returns over the same period, further reinforcing Bitcoin's appeal as a top-performing asset.
He also reaffirmed MicroStrategy’s leveraged Bitcoin strategy. By selling convertible bonds and using the proceeds to buy more Bitcoin, MicroStrategy has seen an 825% return on its capital. This even surpasses Nvidia, one of the best-performing stocks on the S&P 500, which has gained 821%.
Saylor believes that current outflows from spot Bitcoin exchange-traded funds (ETFs), which saw $1.2 billion withdrawn last week due to market volatility, will only serve to increase demand in the long term. He sees these short-term fluctuations as opportunities for those who understand Bitcoin’s long-term potential to acquire more assets.
Looking at the bigger picture, Saylor is convinced that HODL’ers—those who hold onto their Bitcoin regardless of short-term price movements—will come out ahead. He uses the term "HODL," which means "hold on for dear life," to emphasize the importance of long-term investment in digital assets like Bitcoin.
While Saylor's short-term outlook places Bitcoin near $4 million, his long-term vision is even more ambitious. He predicts that Bitcoin will capture over 13% of global capital by 2050, pushing its value to a staggering $13 million per coin. If Bitcoin continues on this trajectory, it could radically reshape the global financial system, transforming how people store and transfer wealth.
