Happycoin.club - At the BTC Prague 2024 conference, MicroStrategy executive chairman Michael Saylor said that the price of Bitcoin could reach $8 and even $24 million.
This forecast was part of his presentation entitled “21 Rules of Bitcoin HODLing,” which outlines strategies for long-term investment management in a highly volatile environment.
In his speech, Saylor listed philosophical and strategic principles for understanding and investing in Bitcoin. He described BTC not just as a financial asset, but as a revolutionary instrument with the potential to change global financial paradigms.
Another conference speaker, crypto investor Luke Broyles, summed up Sailor’s theses in a separate message on the social network X, banned in Russia.
Sailor's 21 rules 1. Understanding versus criticism. Saylor drew attention to the existing division between those who understand the potential of Bitcoin and those who criticize it. He believes that people who recognize Bitcoin's potential are anticipating a financial paradigm shift before it actually happens.
2. Personal evolution. Reflecting on his initial disdain for Bitcoin in 2013, Saylor discussed how his views changed as Bitcoin's sustainability and potential became increasingly clear. His journey from skepticism to Bitcoin advocacy is typical for many investors.
3. Live forever and learn. Saylor emphasized that studying Bitcoin is an ongoing process, since the nature of this asset is multifaceted and constantly evolving. He also highlighted its importance at the intersection of the global economy, technology and regulatory framework.
4. Historical parallels. Dipping into history, Saylor cited chaotic times such as World War II and the rise of communism in Europe as examples of Bitcoin's value as a stable store of wealth independent of geopolitics.
5. Equal opportunities. According to Saylor, Bitcoin offers equal opportunity in contrast to traditional financial systems, which he believes are inherently aimed against the average person. In this regard, he presented Bitcoin as an extremely fair and transparent financial instrument.
6. Proactive investing. He advised taking a proactive approach to investing and emphasized the importance of investing in Bitcoin in a thorough and thoughtful manner to protect your financial future.
7. Ownership and control. As Saylor says, Bitcoin allows you to own property without the intermediation of any third party, which highlights the importance of cryptographic keys in controlling personal finances.
8. Volatility and growth. Reflecting on Bitcoin's volatility, Saylor shared a personal anecdote about how he first gave up on Bitcoin at $892 and then bought it at $9,500. He noted that everyone gets Bitcoin at the price they deserve and predicts that Bitcoin could reach $8 million.
9. Be careful when investing. Saylor advised investing only money that “you can afford to lose,” emphasizing how harmful it is to ignore Bitcoin at this stage of its adoption.
10. Going beyond traditional systems. Describing fiat currencies and traditional economic indicators as a “matrix,” Saylor promotes Bitcoin as a means of moving beyond traditional financial systems.
11. Influence at the corporate level. Saylor said Bitcoin has had a dramatic impact on his company's financial stability, illustrating the direct benefit of strategic Bitcoin investments to corporate finance.
12. Growth forecast. Saylor predicts that Bitcoin will have a compound annual growth rate (CAGR) of 24% over the next decade, which could see it reach a price of $600,000 by 2034.
13. A remedy for the imperfection of the economy. A top manager at Microstrategy called the current economic system flawed and saw Bitcoin as a means to solve these problems, calling it a revolutionary technology.
14. Positive approach. Instead of attacking the existing fiat system, Saylor called for a positive approach, advocating building a new system with Bitcoin rather than destructive resistance to the old one.
15. Universal utility. Saylor argues that Bitcoin is for everyone, which is why he predicts that digital capital like the currency could eventually account for half the entire value of the future global economy.
16. Look from a different angle. Michael advised us to learn to view future technologies through the prism of Bitcoin.
17. Transformative impact. The speaker drew attention to the fact that thanks to Bitcoin, people are rethinking their approach to money, value and investment on a global scale.
18. Long-term emphasis. Saylor emphasized that it is important to focus specifically on the long-term potential of Bitcoin, thinking that its market capitalization could grow significantly in the future. He suggested that Bitcoin's market capitalization would rise from $1 trillion to $100 trillion, then to $300 trillion and ultimately to $500 trillion, which would equate to a price of $24,000,000 per coin.
19. Respect for Bitcoin. He warned against underestimating Bitcoin's impact, saying it was short-sighted to ridicule the new financial technology.
20. Long-term hodling. Saylor compared selling Bitcoin to gambling against yourself, as it is a fundamental asset for long-term financial security.
21. Patient agitation. Finally, the expert emphasized the importance of patience and kindness when promoting Bitcoin, especially towards those who initially criticized or ignored its benefits.
