Bitcoin
Bitcoin to account for 7% of global wealth, price to surge to $13 million in 21 years: Michael Saylor
It will come as no surprise that Michael Saylor remains extremely bullish on Bitcoin {{BTC}} and the MicroStrategy CEO did not disappoint on Friday, saying he sees the price of the world’s largest cryptocurrency rising to $13 million by 2045 in his base case scenario.
In a speech at the Bitcoin 2024 conference in Nashville, Saylor noted that at bitcoin’s current price of around $65,000, it has a market cap of $1.3 trillion, or just 0.1% of all global wealth.
For bitcoin to reach its base case of $13 billion by 2045, Saylor said, it would need a 29% annual rate of return. At that level, he continued, bitcoin would have a market capitalization of $280 trillion and would represent 7% of global wealth.
In an optimistic scenario, Saylor said bitcoin could be worth as much as $49 million and represent 22% of global wealth; his pessimistic scenario was a value of $3 million and 2% of global wealth.
Under Saylor’s leadership, enterprise software company MicroStategy has has accumulated a bitcoin stack of 226,331 tokens over the past four years, that figure currently stands at around $15 billion, or approximately 80% more than the cumulative purchase price.
Read more: VanEck Predicts Bitcoin Will Hit $2.9 Million by 2050 – But A Lot Needs to Happen First