The price of the world's largest cryptocurrency, Bitcoin, may have taken a hit in recent weeks, but Bitcoin's biggest proponent, Michael Saylor, isn't backing down from his bullish predictions. On Monday, the tech entrepreneur claimed that Bitcoin will be worth $13 million per BTC within 21 years.
MicroStrategy is now the largest publicly traded company holding Bitcoin, accounting for more than 1% of the total supply of Bitcoin that will ever be created. Saylor, the company's co-founder and chairman, has repeatedly encouraged other businesses to adopt MicroStrategy's crypto-hoarding strategy by buying and holding the leading cryptocurrency.
“My long-term forecast is that Bitcoin will be worth $13 million in 21 years,” Saylor told CNBC on Monday. “Right now, Bitcoin is only 0.1% of the global capital — I believe it will grow to 7%.”
MicroStrategy began buying Bitcoin in 2020 with the goal of maximizing shareholder returns. Saylor argued that large cash hoards were diluting value for investors, while Bitcoin was the best investment. At the time of the announcement, Bitcoin was priced below $12,000 per coin.
MicroStrategy’s move has paid off, with the company’s stock price soaring as it becomes a way for investors to gain exposure to the crypto market without having to buy Bitcoin directly. This was especially true before spot Bitcoin ETFs were approved in January, but the company’s stock has continued to grow since then.
MicroStrategy, which sells data analytics software, is also expanding its operations based on Bitcoin technology. The company currently holds 226,500 Bitcoins, worth about $12.8 billion at the current price of $56,576 per coin.
In an interview with CNBC, Saylor also emphasized that Republicans are now taking a more progressive stance on crypto policy.
Cryptocurrency policy has become a hot topic in the upcoming US presidential election. Republican frontrunner Donald Trump has shifted his stance and is now backing Bitcoin, despite his previous criticism of the cryptocurrency. Meanwhile, Democratic frontrunner Kamala Harris has barely mentioned crypto and did not include it in her public policies on her website over the weekend.
“The political climate has changed, and I think the Republicans are more progressive now, while the Democrats are more neutral when it comes to crypto and Bitcoin,” Saylor said.
Source: https://tapchibitcoin.io/michael-saylor-du-doan-gia-bitcoin-se-tang-len-13-trieu-usd-trong-vong-21-nam-toi.html
