Michael Saylor, the executive chairman and co-founder of MicroStrategy, has predicted that Bitcoin will reach $10 million per coin.
Saylor made this prediction during a podcast with Robin Seyr, further claiming that China will become a strong supporter of the cryptocurrency.
Chinese Adoption and Economics
Saylor, who is known for being among the most vocal BTC supporters, claimed in the interview, âThe cost of Bitcoinâs going to go up to ten million dollars a coin.â
Saylorâs argument is based on the concept of âperfect money.â He stated that Bitcoin, with its decentralized nature and finite supply, represents a form of âperfect moneyâ that could revolutionize the global financial system. He contrasted Bitcoin with traditional forms of money, which he deemed âimperfect,â arguing that the cryptocurrency represents some form of economic immortality.
#Bitcoin is Economic Immortality.pic.twitter.com/ZtLzUK4kO6
â Michael Saylor (@saylor) June 23, 2024
Saylor illustrated this by asking, âWhatâs the difference between perfect money and imperfect money? Perfect money is economic immortality. Imperfect money is: we all have a short, brutal life.â
In Saylorâs view, Bitcoinâs introduction has made all previous economic systems obsolete. He criticized traditional economics as âpseudoscience before Satoshi,â referring to Bitcoinâs mysterious creator, Satoshi Nakamoto. According to Saylor, economists of the past were similar to primitives using âseashells and glass beadsâ compared to the sophisticated financial instrument that Bitcoin represents.
âEconomics is a quasi-religious liberal art full of peopleâs opinions and prejudices and biases. ⊠All the economists before Satoshi were trying to work out the laws of economics with seashells and glass beads and pieces of paper and credit instruments,â Saylor claimed.
Another notable aspect of Saylorâs interview was his prediction regarding Chinaâs stance on Bitcoin. Despite the Chinese governmentâs current strict regulations on cryptocurrency, Saylor confidently stated his belief that both the local people and their authorities will adopt Bitcoin and predicted that, at some point in the future, the value of a single BTC will reach $10 million.
Corporate Immortality
Saylor also presented a vision of Bitcoin as a means to achieve âcorporate immortality.â He claimed that companies investing in the cryptocurrency could significantly extend their lifespans, outlasting those that follow traditional financial practices.
âThe average life expectancy of a corporation is something like 10 years,â Saylor noted. âWeâre talking about eliminating corporate mortality, weâre talking about stretching economic vitality easily by a factor of 10, maybe by a factor of a hundred, maybe by a factor of a million.â
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