bullish

Bitcoin

when

Base

<p style="padding-left: 40px;">Former<strong> 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.</strong></p> 
<p>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&nbsp; role in fighting inflation but Bitcoin’s long-term value has a deeper bet.</p> 
<h3 id="bitcoin-could-reach-13-million-valuation-per-coin">Bitcoin could reach $13 million valuation per coin</h3> 
<p>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.</p> 
<p>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.</p> 
<p>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 <a href="https://www.youtube.com/watch?v=A60jVnAIX40&amp;t=1s" rel="nofollow noopener" target="_blank">podcast</a> while predicting its journey to $10 million.</p> 
<p>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 <a href="https://www.business2community.com/crypto-news/michael-saylor-sees-btc-reaching-a-price-of-13m-by-2045-is-it-possible-02817471" rel="nofollow noopener" target="_blank">propel</a> 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.</p> 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 <p lang="en" dir="ltr">$13M is the <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">#Bitcoin</a> Base Case. <a href="https://t.co/0Wz60P2C5n" rel="nofollow" target="_blank">pic.twitter.com/0Wz60P2C5n</a></p> 
 <p>— Michael Saylor⚡️ (@saylor) <a href="https://twitter.com/saylor/status/1817170455578427708?ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">July 27, 2024</a></p>
</blockquote> 
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p> 
<p>&nbsp;</p> 
<p>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.</p> 
<h3 id="saylor-eyes-bitcoin-holdings-by-corporations">Saylor eyes Bitcoin holdings by corporations</h3> 
<p>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.</p> 
<p>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.</p> 
<figure id="attachment_562165" aria-describedby="caption-attachment-562165" style="width: 100%" class="wp-caption alignnone">
 <img decoding="async" class="size-full wp-image-562165" src="https://www.cryptopolitan.com/wp-content/uploads/2024/07/MSTR.png" alt="MSTR's Bitcoin bet | Source: Bitcoin Treasuries" width="833" height="450" srcset="https://www.cryptopolitan.com/wp-content/uploads/2024/07/MSTR.png 833w, https://www.cryptopolitan.com/wp-content/uploads/2024/07/MSTR-300x162.png 300w, https://www.cryptopolitan.com/wp-content/uploads/2024/07/MSTR-768x415.png 768w" sizes="(max-width: 833px) 100vw, 833px">
 <figcaption id="caption-attachment-562165" class="wp-caption-text">
  MSTR’s BTC bet | Source: Bitcoin Treasuries
 </figcaption>
</figure> 
<p>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.</p> 
<h3 id="microstrategy-has-made-a-strategic-btc-bet">MicroStrategy has made a strategic BTC bet</h3> 
<p>MicroStrategy Inc. (MSTR), under Saylor, became the largest public holder of Bitcoin. As of June 21, the data by Bitcoin Treasuries <a href="https://bitcointreasuries.net/entities/1" rel="nofollow noopener" target="_blank">notes</a> 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.</p> 
<p>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.</p> 
<figure id="attachment_562166" aria-describedby="caption-attachment-562166" style="width: 100%" class="wp-caption alignnone">
 <img loading="lazy" decoding="async" class="wp-image-562166 size-full" src="https://www.cryptopolitan.com/wp-content/uploads/2024/07/BTCUSD_2024-07-30_23-09-00.png" alt="Bitcoin USD 1-day trading chart | Source: TradingView" width="1920" height="941" srcset="https://www.cryptopolitan.com/wp-content/uploads/2024/07/BTCUSD_2024-07-30_23-09-00.png 1920w, https://www.cryptopolitan.com/wp-content/uploads/2024/07/BTCUSD_2024-07-30_23-09-00-300x147.png 300w, https://www.cryptopolitan.com/wp-content/uploads/2024/07/BTCUSD_2024-07-30_23-09-00-1200x588.png 1200w, https://www.cryptopolitan.com/wp-content/uploads/2024/07/BTCUSD_2024-07-30_23-09-00-768x376.png 768w, https://www.cryptopolitan.com/wp-content/uploads/2024/07/BTCUSD_2024-07-30_23-09-00-1536x753.png 1536w" sizes="(max-width: 1920px) 100vw, 1920px">
 <figcaption id="caption-attachment-562166" class="wp-caption-text">
  Bitcoin USD 1-day trading chart | Source: TradingView
 </figcaption>
</figure> 
<p>Therefore, it’s important to point out that Saylor has a vested interest in Bitcoin’s price increase.&nbsp; 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.</p>

Michael Saylor bets on Bitcoin’s bullish future but is $270T market cap achievable?

Obsah

Cryptopolitan_News

Ďalšie články zverejnené 31. 7. 2024

Pepe Eats Solana (PEPEATS) Will Hit $20 Million Before Exchange Listings, While SHIB and Dogecoin...

Nvidia stock jumps 11% after SIGGRAPH unveil: ‘next wave of AI is robotics’

Analyst Predicts Bitcoin’s Path to New All-Time High

Analyst Predicts Potential 60,000% Surge for XRP Price, but How?

Solana Soars 35% This Month as MoonTaurus (MNTR) Raises Over $150,000 in 48 Hours

Bitcoin Whale Alert: 4,500 BTC Moved from Binance to Trigger a Rally?

Pripojte sa k nášmu bezplatnému bulletinu a získajte denné aktualizácie kryptomien!