Dec 06, 2024 12:05
In a recent interview with Fox Business, Michael Saylor, co-founder and chairman of MicroStrategy, expressed an ambitious vision for Bitcoin (BTC), predicting a substantial increase in its overall market value over the next 21 years. This forecast aligns with MicroStrategys ongoing strategy of intensifying its Bitcoin acquisition program, which has significantly influenced the company’s stock performance, linking it closely to Bitcoin’s price movements. Saylor Envisions Bitcoin Price Soaring To $13 Million Bitcoin has already reached a valuation of approximately $2 trillion, with its price hitting a new record of $104,000 on Thursday. However, Saylor anticipates an additional $200 trillion will be added to Bitcoin’s market cap by 2045, driven largely by global inflationary pressures. According to Saylor, many investors are moving away from traditional assets in favor of Bitcoin, viewing it as a viable global monetary asset. He asserts that as more capital flows into Bitcoin, its growth trajectory will outpace equities, gold, and real estate. Related Reading: XRP Downtrend Is Only Temporary: Analyst Gives Reasons Why Price Is Headed For $3.2 Delving into specific price predictions, Saylor posited that bitcoin could reach an astounding $13 million per coin. This would represent a 12,384% growth if Saylor’s predicted scenario comes to fruition, potentially making it the largest currency in the world. Saylor bases this estimate on an analysis suggesting that Bitcoin has historically grown at an average annual rate of 29%. This growth, he argues, could continue, leading to the projected valuation by 2045. NewsBTC previously reported that Saylor believes that Bitcoin represents only 0.1% of the global capital market, but he envisions that figure increasing to 7%. Saylor also provided a detailed analysis of Bitcoin’s growth trajectory, outlining a four-year projection with an average growth rate that might start at 44% and gradually taper down to 30%. Contrary to the perception of Bitcoin as a high-risk asset, Saylor emphasizes its potential as a safe haven for risk-averse investors, highlighting the increasing demand for security in investment choices. MicroStrategy Ramps Up BTC Acquisitions In a recent social media update, Saylor shared the company’s performance following three years of strategic Bitcoin investments. He announced that year-to-date, MicroStrategy’s treasury operations have delivered an impressive BTC yield of 63.3%, resulting in a net benefit of approximately 119,800 BTC for shareholders. At prices of $103,000 per BTC, this translates to an estimated $12.3 billion in returns for the year, positioning MicroStrategy as one of the most profitable and fastest-growing companies operating under the Bitcoin Standard. Related Reading: Dont Fade Dogecoin! Analyst Says DOGE Is About To Rally On Monday, MicroStrategy revealed that it has significantly ramped up its BTC acquisitions, surpassing the milestone of 400,000 BTC in its portfolio. The company sold 3.7 million shares of its stock, generating around $1.5 billion in proceeds immediately reinvested into Bitcoin. This marks the fourth consecutive week of Bitcoin purchases by the firm. Since November 11, MicroStrategy has invested over $13.5 billion in Bitcoin across three separate transactions, bringing its total holdings to approximately $38 billion, or 402,100 BTC, at an average purchase price of $56,658 per coin. BTC trades at $101,628 at the time of writing, recording a 6% surge in the 24-hour time frame. Featured image from DALL-E, chart from TradingView.com
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