Michael Saylor believes Bitcoin will rise to US$13 million in the next 20 years. Michael Saylor Says Bitcoin Will go to 13 Million, Calls it Asset Without Counterparty Risk
Saylor encouraged companies to accrue and hold BTC, as its share of global capital could rise from 0.1% to 7%.
The entrepreneur also stated that Republicans are more progressive than Democrats on crypto issues.
Despite Bitcoin’s recent downfall to US$53K (AU$79.6K) and the crypto market’s crash to under US$2 trillion (AU$3 trillion) this week, MicroStrategy’s Chairman and founder Michael Saylor believes Bitcoin (BTC) will reach US$13 million (AU$19.5 million) in the next 20 years.
No Counterparty Risk
During an interview with CNBC, Saylor predicted that BTC will increase its share of global capital from 0.1% to 7%, pushing the price to US$13 million (AU$19.5 million) over the next 20 years. MicroStrategy, which began purchasing Bitcoin in August 2020, now holds approximately US$8.3 billion (AU$12.46 billion) worth of the asset. Michael Saylor Says Bitcoin Will go to 13 Million, Calls it Asset Without Counterparty Risk
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Moreover, Saylor noted that Republicans, including former President Donald Trump, have embraced a “very pro-crypto stance”. He added that while Republicans have shifted to a more progressive position on Bitcoin, Democrats are moving toward a centrist view:
No Comments About Gensler
During the interview, Saylor refrained from commenting on the potential role of US Securities and Exchange Commission (SEC) Chairman Gary Gensler’s in a future administration, citing it as beyond his authority.
Talking about Gensler, he’s annoyed so many people to the point that neither Democrats nor Republicans want him in charge. As CNA reported, deep-pocketed Democratic donors from tech and finance have requested VP Kamala Harris to fire Gensler and Lina Khan, the chair of the Federal Trade Commission (FTC).
Going back to Saylor, since adopting its Bitcoin-focused strategy, MicroStrategy’s stock has surged 879%, although it has experienced a 20% decline in the past six months, mirroring Bitcoin’s recent struggles. Talking about struggles, Ethereum has also been in the red, underperforming BTC by 44% since The Merge took place.
Further, the price of ETH against BTC is at its lowest since April 2021.
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