Bitcoin
Michael Saylor Hints at Price Increases Ahead by U.Today
U.Today – MicroStrategy President and Co-Founder Michael Saylor sparked excitement in the crypto community by releasing a survey, asking, “How fast do you expect BTC to appreciate annually in US Dollars over the next ten years?” The results reveal a strong bullish sentiment among respondents, suggesting a significant increase in prices for .
These results indicate that almost half of those interviewed are extremely optimistic about the future of Bitcoin, anticipating a substantial annual appreciation that could see the cryptocurrency reach unprecedented levels.
According to the survey results, 22.4% of participants predict a steady increase of 10% to 19% annually. Meanwhile, 18% are even more optimistic, predicting an annual increase of 20% to 29%. A hopeful 10.8% of respondents predict a 30% to 39% increase each year. However, it is the majority, an impressive 48.8%, who predict an impressive 40% annual appreciation for more than a decade.
This sentiment comes at a time when Bitcoin is experiencing a significant downturn, having extended its decline to close to $60,000 – a stark contrast to the hopeful predictions.
Bitcoin recently extended its decline to lows of $60,581 in early trading today, following one of the worst weeks for the cryptocurrency in 2024. At press time, Bitcoin was trading at $61,076, marking a low of more than a month and about 6% drop.
Losses are mounting in the cryptocurrency market after the second-worst weekly drop in 2024, reflecting lower demand for Bitcoin exchange-traded funds and concerns over monetary policy. The crypto decline comes amid concerns about the possibility of the Federal Reserve quickly cutting interest rates from their highest in two decades.
Bitcoin reached an all-time high of $73,798 in mid-March, but is trailing traditional investments like stocks, bonds and gold this quarter.
While the crypto community keeps an eye on Bitcoin’s price movement in the near term, Saylor’s research reflects expectations for Bitcoin’s growth over the next decade.