Unsurprisingly, Michael Saylor remains extremely optimistic about bitcoin, and the MicroStrategy founder didn't disappoint on Friday, saying that according to his base case scenario, the price of the world's largest cryptocurrency could rise to $13 million by 2045. He said it would rise.
In delivering the keynote address at the ongoing #BTC 2024 conference, Saylor said the macroeconomic stars have aligned for #BTC , with bitcoin's market value reaching $280 trillion by 2045. This is more than 275 times the current market capitalization of US$1.3 trillion. With a market capitalization of 280 trillion U. S. dollars, the price of BTC will reach the base price of $13 million U. S. dollars in 21 years, accounting for 7% of all global assets.
The #MicroStrategy CEO urged attendees at the annual conference to become "bitcoin bulls" with a "triple maxi": bullish BTC is valued at US$49 million and could potentially represent 22% of global wealth, while bearish BTC could be valued at US$3 million (or 2% of global wealth), he said.
It is estimated that Sailor personally owns $1 billion worth of bitcoin, making MicroStrategy the world's largest holder of BTC with a stash of 226,331 coins worth about $15.4 billion as of the end of 2020.
According to Saylor, all physical capital, including government bonds, Ferraris and Miami Beach real estate, is subject to the laws of thermodynamics, including entropy (the tendency of energy to evaporate over time).
Entropy reduces the value of physical assets. Entropy sucks out capital and energy, explains Saylor, citing "war, famine and catastrophe" as other factors that reduce the long-term value of conventional assets.
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