Bitcoin is one of the game-changing financial assets of the past ten years that have turned small investments into substantial fortunes. But the best could be yet to come, according to experts.
Yet that isn’t holding Michael Saylor, a major tech executive and founder of software firm MicroStrategy, back from being super bullish on the world’s leading cryptocurrency, which he believes could surge 18,600% from its current price of $69,300, as of Oct. 31, to an astonishing $13 million per coin by 2045. Here’s what investors should know about Saylor’s bold prediction.
Saylor’s Unwavering Bitcoin Optimism
This came after Saylor made headlines in 2020 by using MicroStrategy’s cash reserves to buy Bitcoin, with the motive of immense government stimulus in order to combat the COVID-19 economic downturn. He looked for an asset that was stably supplied and found Bitcoin as his best option.
It has since then become a Bitcoin-centric company, with Saylor raising capital to buy more. His firm lately said it hopes to raise $42 billion in the next three years to invest in the digital currency—a strategy that has so far worked wonders. MicroStrategy’s stock is up 1,830% since buying its first Bitcoin, compared to an 81% total return for the S&P 500 over that time.
Saylor’s forecast has Bitcoin at US$13 million per coin in 2045, a stratospheric 19,000% gain from today’s price. “That’s assuming Bitcoin ownership rises from roughly 0.1% of global wealth today to just 7%, he says.” On an annualized basis, that would be a 28% return per year-much larger than the stock market averages.
Bitcoin as a Safe Haven
Saylor added that Bitcoin is an extra-systemic asset and is hence beyond the control of central authorities. He believed many more people had turned to Bitcoin as they came upon its capped supply of 21 million coins—especially relative to the growing quantities that are created by fiat currency.
The recent approval of spot Bitcoin ETFs has also brought fresh capital and newer investors into the market, although many others, including corporations, remain on the sidelines.
That bold strategy from MicroStrategy is an outlier, but a few others may follow soon. At its meeting of shareholders in December, technology giant Microsoft will let investors vote on whether to add Bitcoin to its corporate treasury—a sign that Bitcoin is gaining serious attention even among the biggest companies.
Though one cannot predict the next twenty years for sure, the view of Saylor seems somewhat convincing that more people, businesses, and institutions will eventually join Bitcoin. But the fact is, limited supply and increasing demand can power the continuous growth of Bitcoin as something worth a watch.
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