Making reference to the halving, which takes place in less than a week, Saylor comments on his price outlook for the cryptocurrency at US$10 million per unit.
During a private event in Faria Lima, Michael Saylor, founder of MicroStrategy, spoke about how the best time to buy Bitcoin is now. The event took place last Thursday (11). âRight now we are before the halving, you have eight days, eight days. The halving is coming. April 20th. After the halving, tick tockâ, he joked.
Making reference to the halving, which takes place in less than a week, Saylor comments on his price outlook for the cryptocurrency at US$10 million per unit. Furthermore, it reinforces how this is a unique moment to take a stand.
At this moment, he comments that there are 900 Bitcoins per day being issued by miners. Therefore #bitcoin in the range of US$ 70 thousand (the price it was at the time of the event) there are US$ 65 million per day coming from miners.
âAfter the halving, there will be US$32 million per day in natural sales. So you can think of it as something around US$8 to US$10 billion per year of demand being released into the market for the next four yearsâ, he explains.
He comments on the basics of what would happen if demand continues to grow. Furthermore, it reinforces that supply will not grow. âSo if I said I would buy $30 million worth of Bitcoin a day, every day for the next four years, that would seem a little optimistic for the price,â he instigates.
Halving is more symbolic
However, he emphasizes that he does not believe that the price will immediately skyrocket the day after the halving. But it will be a continuous force of pressure. âThe halving is actually more symbolic and symbolically important for another reason, which is that we have about 94% of the Bitcoin supply mined now,â he says.
He remembers that, by 2034, it will be 99%. âYou only have 10 years to buy Bitcoin. This is the period of the gold rush. By 2034, we will have 99% of Bitcoin mined. Effectively, the last 1% will come in the next 100 yearsâ, he says. âThere will be practically nothing left after 2034.â
He highlights that, in his view, the cheapest time to buy Bitcoin is when there are natural sellers (miners). âWhat will happen is that the entire network will strengthen over the next 10 yearsâ, he adds.
Therefore, Michael Saylor comments to Faria Lima that he sees the halving as just an asymptotic approach towards 21 million.
âAnd keep in mind that effectively by 2030, Bitcoinâs stock-to-flow ratio will go to infinity. And when stock-to-flow goes to infinity, the half-life of your economic energy is infinite. It becomes the hardest substance in the worldâ, he says.
