MicroStrategy CEO Michael Saylor believes bitcoin will cost as much as $13 million. In an interview with CNBC, he explained why he still sees potential in the cryptocurrency.
Michael Saylor predicts BTC rate
MicroStrategy CEO Michael Saylor believes that one bitcoin will be worth $13 million in a little over 20 years. That’s why the recent declines haven’t scared him or his company.
During the CNBC interview where these words were said, Saylor added that BTC will maintain its 44 percent annual growth rate.
My long term forecast is that (BTC price) will grow to $13 million in 21 years
– he said.
To reach this price by 2045, Bitcoin would need to maintain an average growth rate of 29.56%. This is even lower than the indicated 44%.
Saylor initially gave his price prediction during his speech at the Bitcoin 2024 conference in Nashville, but then specified that a price of $13 million was the optimal scenario. Stepping into bearish territory, he pointed to “only” $3 million, while in a bullish scenario, bitcoin could be valued at as much as $49 million.
But why would Bitcoin increase in value?
If you’re afraid of a missile attack, you can’t teleport your $10 million apartment to Singapore (…). But you can sell $100 million worth of bitcoin
– he explained.
So as you can see, the point is that Bitcoin enables a simple transfer of wealth.
Bitcoin price today and tomorrow
Today, 1 BTC costs around $56,800, which translates into a 3.6% increase from yesterday. In turn, over the past 7 days, the price has fallen by just over 3%.
This week, however, the rate may start to rise. A number of important events are ahead of us. The key may be inflation data in the US (if it continues to fall, the BTC rate should rise), but also the result of the presidential debate in the US (Trump’s victory does not mean a revolution in politics, but it should strengthen the cryptocurrency’s quotes).
