TLDR
Michael Saylor, executive chairman of MicroStrategy, predicts Bitcoin will reach $10 million per coin in the future.
Saylor describes Bitcoin as offering “economic immortality” and suggests it could extend corporate lifespans significantly.
He argues that Bitcoin investment could increase a company’s economic vitality by a factor of 10 to potentially a million.
Saylor controversially predicts that China as a nation will eventually support Bitcoin
Michael Saylor, the outspoken co-founder and executive chairman of business intelligence company MicroStrategy, has once again made waves in the cryptocurrency world with his bold predictions about Bitcoin’s future.
In a recent 84-minute podcast interview, Saylor shared his vision of Bitcoin reaching $10 million per coin and offering what he terms “economic immortality” to companies and individuals alike.
Saylor’s bullish stance on Bitcoin is not new, but his recent comments have pushed the boundaries of even the most optimistic projections. “The cost of Bitcoin’s going to go up to 10 million dollars a coin,” Saylor declared, a statement that has both excited Bitcoin enthusiasts and raised eyebrows among skeptics.
Central to Saylor’s thesis is the concept of Bitcoin as a vehicle for economic longevity. He poses the question,
“What if I told you I could make your company live forever?” This idea of corporate immortality through Bitcoin investment is a recurring theme in Saylor’s rhetoric. He contrasts the average corporate lifespan of about 10 years with the potential for Bitcoin to extend a company’s economic vitality “easily by a factor of 10, maybe by a factor of a hundred, maybe by a factor of a million.”
Saylor’s argument rests on the premise that Bitcoin represents a paradigm shift in economics. He goes so far as to claim that “Economics is pseudoscience before Satoshi,” referring to Bitcoin’s pseudonymous creator.
In Saylor’s view, all economic theories predating Bitcoin were “trying to work out the laws of economics with seashells and glass beads and pieces of paper and credit instruments.”
This dismissal of traditional economic theory has not gone unchallenged. Critics argue that while Bitcoin undoubtedly represents a significant innovation in finance, it does not invalidate centuries of economic scholarship.
They caution against overhyping Bitcoin’s potential while downplaying the complexities and regulatory challenges it faces globally.
Perhaps one of Saylor’s most controversial predictions is his belief that China, as a nation, will eventually throw its support behind Bitcoin.
This forecast suggests a seismic shift in global economic dynamics, especially considering China’s current stance on cryptocurrencies. Saylor’s assertion rests on the premise that Bitcoin’s utility as a store of value and medium of exchange will compel even the most cautious governments to adopt it.
Saylor’s vision for Bitcoin extends beyond mere financial speculation. He sees it as a transformative force that could reshape the very nature of corporate existence.
By investing in Bitcoin, Saylor argues, companies are positioning themselves to withstand economic uncertainties and inflationary pressures that have traditionally limited corporate lifespans.
“What’s the difference between perfect money and imperfect money? Perfect money is economic immortality. Imperfect money is: we all have a short, brutal life,”
Saylor stated, encapsulating his belief in Bitcoin’s potential to offer long-term financial stability.
Some critics point out that Saylor’s dismissal of pre-Bitcoin economics as “pseudoscience” overlooks the complex realities of global financial systems and the myriad factors that influence economic stability and corporate longevity.
Despite the skepticism, Saylor’s influence in the cryptocurrency space cannot be understated. As the leader of MicroStrategy, a company that has invested heavily in Bitcoin, his words carry weight in both corporate and crypto circles.
His advocacy has played a significant role in bringing Bitcoin into mainstream corporate treasury discussions.
The post Economic Immortality: Michael Saylor Predicts $10 Million Bitcoin appeared first on Blockonomi.