The Executive Chairman at MicroStrategy, Michael Saylor, is heavily bullish on one particular cryptocurrency. His forecast is so bullish that he predicted it to rise by nearly 84,380% from its current price. That’s a massive surge that could change investors’ lives for good and lead to financial prosperity for generations.
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The bullish thesis cannot be brushed off as the cryptocurrency has already risen this much since its inception. Early investors have made millions in profits, making it an asset class you never want to miss hoarding on. While Michael Saylor’s prediction on cryptocurrency is wild, it holds water for the long term.
So, which cryptocurrency is Michael Saylor so bullish about? Well, the answer is Bitcoin (BTC). Michael Saylor’s MicroStrategy is one of the biggest proponents of Bitcoin and has accumulated the cryptocurrency for years. MicroStrategy currently holds 17,732 BTC worth a whopping $1.1 billion.
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Cryptocurrency: Michael Saylor Remains Bullish on Bitcoin
Michael Saylor recently predicted at the Bitcoin cryptocurrency conference that he’s confident BTC could reach a price of $13 million a coin. He gave a tentative timeline forecasting that BTC might reach $13 million in the next 21 years in 2045. Even if the markets end up in the bear markets, his estimate indicates that BTC will trade at $3 million a coin.
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“What do I think will happen? Well, I’ve got a bear case and a bull case. But what I think will happen is that 55% (compound annual growth rate in Bitcoin) goes to 50%, 45%, 35%, 30%, 25%, 20%. It’s between 50% and 20%. It will gradually decelerate until it’s growing about twice as fast as the S&P 500 index. And at that rate, Bitcoin’s $13 million a coin in the year 2045. $13 million! It could be a $3 million bear case and a $49 million bull case,” said Michael Saylor on the cryptocurrency.