1 Top Cryptocurrency to Buy Before It Soars 12,000%, According to this CEO

Bitcoin's most fervent supporter didn't shy away on why he thinks the cryptocurrency has plenty of upside.

There are few people who can claim to be bigger fans of Bitcoin (BTC -1.24%) than Michael Saylor. The CEO of MicroStrategy (MSTR -3.35%) has become what could only be described as a Bitcoin evangelist.

Over the last four years his company has embarked on a strategy of replacing all its cash on hand with Bitcoin, and in some instances even taking on debt to buy more Bitcoin. Today, MicroStrategy owns around 1% of the total Bitcoin supply.

To some it may seem absurd to do such a thing, but if all goes to plan, Saylor's decision to pursue the Bitcoin strategy could make him and his company billions -- especially if Bitcoin hits his recent prediction of $8 million per coin, a 12,000% increase from its current price. Here's how, and why, Saylor thinks the world's cryptocurrency can keep up its historic pace.

Saylor calls his shot

Over the weekend, the city of Prague hosted the largest Bitcoin conference in Europe and one of the keynote speakers was none other than Michael Saylor. Titled "21 Rules of HODLing," Saylor's speech elaborated on the do's and don'ts of investing in Bitcoin, some of the lessons he has learned, and of course, a little speculation.

He touched on several points, but the most compelling highlighted the simplicity and role of Bitcoin (and why he thinks the cryptocurrency has what it takes to reach $8 million per coin).

In his eyes, Bitcoin is the premier safe haven asset. Its decentralized and virtually impenetrable network makes Bitcoin immune from manipulation that has become so prevalent in the current financial system.

In other words, not only can holders have confidence that their hard-earned money saved in Bitcoin will be there when they need it, but they will likely be worth more as time marches on. This is because there will only be 21 million Bitcoins created and the rate at which those Bitcoins enter the market is diminishing thanks to the halving