Michael Saylor Predicts Bitcoin Will Reach $13 Million, Date
In an exclusive interview with CNBC on Monday, MicroStrategy co-founder and Executive Chairman Michael Saylor repeated his optimistic opinion of Bitcoin.
Saylor predicts Bitcoin price
Saylor, known for guiding his firm toward large BTC purchases to capitalize on its development, predicted a staggering Bitcoin worth. Saylor predicted Bitcoin will reach $13 million per coin.
Saylor said in the interview that Bitcoin comprises 0.1% of global money and expects it to rise to 7%. This momentous change might push Bitcoin to $13 million by 2045, he said.
Saylor provided a four-year BTC market assessment to explain the cryptocurrency's rise. Saylor argued that Bitcoin outperformed established financial indexes with an average yearly growth rate of 44%, tapering to 40%, 35%, and 30% in the future.
Saylor expects BTC to exceed the S&P by 8% and overtake the market value of the top 500 US publicly listed firms, highlighting its potential to disrupt global financial markets.
Saylor also noted the cryptocurrency's unique promise as a counterparty-free asset throughout the conversation.
Saylor said that Bitcoin is a safe haven for risk-averse investors, highlighting the need for security and stability.
Market Trend and Support
A research by crypto expert Doctor Profit examined the BTC market and predicted future price changes. The article asks: will the market continue to fall or break out?
In 2022, Bitcoin stayed above $16,000, defying projections of a decline below $10,000. Doctor Profit warns against waiting for a lower price point.
Doctor Profit's research focuses on the 50-day exponential moving average (EMA), which is 2% below the market price of $55,400, suggesting traders might profit from a cryptocurrency rebound.
The expert also notes a second support level 10% below the current price around $48,000, which might prevent additional drops, as it did during the August 5 collapse that sent BTC below $49,000.
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