Bitcoin
Michael Saylor Predicts $280 Trillion Bitcoin Market Cap at Nashville Conference
Michael Saylor Predicts $280 Trillion Bitcoin Market Cap at Nashville Conference
Michael Saylor, CEO of MicroStrategy, gave an upbeat speech Friday at the Bitcoin 2024 conference in Nashville. Saylor predicted that Bitcoin’s market cap could skyrocket to $280 trillion by 2045, a staggering increase from its current valuation of just over $1 trillion.
In his speech, Saylor emphasized the inefficiencies of traditional assets and systems in the global economy, advocating for Bitcoin as a superior store of value. He described Bitcoin as the “little orange asset that could,” highlighting its potential longevity compared to other assets. He noted that government-backed debt and luxury items like Ferraris have limited lifespans, while he believes Bitcoin could last significantly longer.
Saylor argued that physical assets are subject to entropy, with their value being eroded by factors such as war, famine and catastrophe. In contrast, he suggested that Bitcoin, particularly when self-custodied or managed with artificial intelligence, could have a lifespan spanning thousands of years. This perspective underscores Saylor’s strategic shift toward Bitcoin four years ago.
MicroStrategy’s aggressive Bitcoin acquisition began following the pandemic-induced market crash of 2020. The company has steadily increased its Bitcoin holdings, most recently adding around 12,000 Bitcoin in June when the price was approximately $65,000. This purchase marked MicroStrategy’s 39th acquisition since its initial Bitcoin purchase in August 2020 at around $12,000 per coin.