2024

Bitcoin

Million

Coin

MicroStrategy Executive Chairman Michael Saylor predicted on Monday that Bitcoin will reach $13 million over the next two decades.
The billionaire explained why the leading digital asset’s recent volatility hasn’t frightened his company, and the advantages for investors to buy into MSTR instead.
<h2 id="bitcoin-to-13-million-says-saylor">Bitcoin To $13 Million, Says Saylor</h2>
During an <a href="https://x.com/saylor/status/1833106549432094956" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">interview</a> with CNBC, Saylor forecasted that Bitcoin will retain its 44% compound annual growth rate in the short term, before that growth steadily declines by roughly 5% per year as the asset matures.
“My long-term forecast is it’s going to go to $13 million over 21 years,” said Saylor. “At some point, it’ll be the S&amp;P return plus 8%, and it’ll be the S&amp;P vol plus 8%.”
To reach that price by 2045, Bitcoin would need to maintain an average CAGR of 29.56%.
Saylor initially put forward a similar price forecast during his speech at Bitcoin 2024 in Nashville. While $13 million was his “base case”, his “bear case” was $3 million (in line with <a href="https://cryptopotato.com/vaneck-predicts-bitcoin-could-reach-2-9-million-by-2050-if-this-happens/" data-wpel-link="internal" rel="noopener noreferrer nofollow">VanEck’s predictions</a>), and his bull case was a whopping $49 million – almost 1000X higher than today.
In the meantime, Saylor expects continued BTC volatility – largely because it is a globally traded, 24/7 asset that is highly liquid.
“If you’re worried about a missile strike, you can’t teleport your ten million dollar apartment to Singapore, lever it up 10 to 1, and short $100 million worth of New York real estate,” he explained. “But you can short $100 million worth of Bitcoin by borrowing $10 million.”
Regarding MicroStrategy (MSTR), Saylor argued that the company has “pioneered” the Bitcoin-backed bond market by issuing billions of dollars in <a href="https://cryptopotato.com/microstrategy-ups-its-bitcoin-centered-convertible-note-offering-to-700-million/" data-wpel-link="internal" rel="noopener noreferrer nofollow">convertible bonds</a> to buy BTC.
As an investment, he says MSTR is like a “tax deferred” BTC yield” instrument, effectively letting users borrow money to buy BTC at rates they could not access as an individual. Since adopting a BTC reserve strategy in 2020
<h2 id="peter-schiff-disapproves">Peter Schiff Disapproves</h2>
Bitcoin critic Peter Schiff called out Saylor for boasting about the gains of both BTC and MSTR, calling his ideas “a bunch of nonsense.”
“MSTR is down 40% from its 52-week high and is 6% below its 2021 high. The actually returns are not nearly as rosy as you describe and will soon get worse,” he argued over Twitter on Monday.
The post <a href="https://cryptopotato.com/michael-saylor-predicts-bitcoin-will-reach-13-million-per-coin/" rel="noopener noreferrer nofollow">Michael Saylor Predicts Bitcoin Will Reach $13 Million Per Coin</a> appeared first on <a href="https://cryptopotato.com/" rel="noopener noreferrer nofollow">CryptoPotato</a>.

Michael Saylor Predicts Bitcoin Will Reach $13 Million Per Coin

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