Michael Saylor, the executive chairman of MicroStrategy, remains as ambitious as ever. This is despite the fact that he has forfeited his voting rights. During a recent interview on Tom Bilyeu’s Impact Theory, he reaffirmed his assertion from the Bitcoin 2024 conference in Nashville that Bitcoin would ultimately be valued at $13 million.
Around the time Michael made this prediction, the asset was trading for $65,000. Now Bitcoin is trading at $104,000, and he is still grounded on that prediction.
Saylor told the host, Tom Bilyeu, that his $13 million Bitcoin price target was calculated using the “Bitcoin24” model.
Saylor’s main assumption is that Bitcoin will experience a 20% annual growth rate over 21 years. He explained that Bitcoin’s trend for several years has been to increase by 60% annually and have an average rate of return of 29% over the next 21 Years.
In addition, Saylor explained that 95% of the world remains in the dark about Bitcoin’s potential. Therefore, he said that with education and adoption by high-net-worth individuals, Bitcoin would definitely reach its target.
The MicroStrategy Chief said, “And the thing driving it from $100,000 to $13 million over the next 21 years is the adoption of it as a capital asset by people that have the wealth.”
Microstrategy’s humongous purchases confirm Saylor’s convictions
In the interview, Saylor said that in six weeks, they had raised $15 billion. This explains why Microstrategy has been buying Bitcoin in huge quantities. If Michael Saylor believes that Bitcoin is going to rise much higher then that shows why they have been buying Bitcoin at $100,000.
In fact, between December 9 and December 15, MicroStrategy acquired 15,350 Bitcoins for an estimated $1.5 billion at an average price of $100,386 per BTC. As a result of this most recent acquisition, the company’s total Bitcoin holdings, which are valued at over $45 billion, have increased to 439,000 BTC.
The acquisition was funded by the sale of 3,884,712 Class A shares. In totality, MicroStrategy has invested $27.1 billion in Bitcoin to date, with an average purchase price of $61,725 per coin.
In addition, Michael Saylor touched on the new administration saying that it is a supportive one. He reminded people that Trump said that no one should sell their Bitcoin.
Moreover, MicroStrategy’s shares have increased by 490% year-to-date, surpassing Bitcoin’s growth of approximately 150%.
Saylor’s take on Bitcoin as a strategic reserve
America and El Salvador have been on the edge of adopting BTC as one of their nations” financial reserves. Saylor mentioned that this could happen during the Donald Trump administration.
Recently, legislation was introduced in the Texas House of Representatives to establish a strategic Bitcoin reserve. This reserve is expected to potentially function as a proving ground for the U.S. Treasury.
Giovanni Capriglione, a Republican state representative, declared that the proposed legislation would allow the state to establish a strategic bitcoin reserve by collecting taxes, fees, and donations in bitcoin, which would be held for a minimum of five years.
Still, Saylor explained that in the next four years under Trump’s administration, Bitcoin is going to go up because of the “crypto renaissance.”
When asked about D.O.G.E, he said, “Elon Musk is the number one sponsor of Bitcoin in the magnificent seven.” He explained that Tesla has Bitcoin on the balance sheet of the seven biggest companies. He mentioned that Vivek is also pro-Bitcoin.
Saylor said, “What’s going on right now is the emergence of Bitcoin as the digital capital network for the world.”
To that end, Saylor said that the US is the leading nation in digital assets, and it would be a great opportunity for it to win against the BRICS.
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