Renowned Bitcoin enthusiast Michael Saylor envisions a tenfold surge in Bitcoin demand within the next 12 months. The co-founder of MicroStrategy anticipates a substantial upswing in interest following the upcoming Bitcoin halving.
As the Bitcoin halving approaches in just a few months, Michael Saylor, a prominent figure in MicroStrategy and a staunch Bitcoin advocate, foresees significant changes. Furthermore, he projects a potential tenfold increase in demand for BTC by the end of 2024.
During his speech at the Australia Crypto Convention on November 10, 2023, Saylor discussed his Bitcoin outlook for the next four to five years. However, when prompted about the future, he embarked on a retrospective analysis spanning from 2020 to 2024.
Highlighting Bitcoin’s evolution, Saylor emphasized its transition from an “offshore unregulated asset” to becoming a “mainstream app embraced by institutions.”
Michael Saylor Forecasts Bitcoin’s Evolution and Pivotal Shifts in the Next 12 Months
Zooming in on the immediate future, Saylor forecasts BTC’s evolution into an “adolescent mainstream asset” by the end of 2024. He underscores critical dynamics involving supply and demand that will soon come into play:
“The forthcoming 12 months will be pivotal. Monthly demand is poised to double, triple, or even escalate by a factor of 10, ranging from two to 10 times… and come April, the available supply for sale will be halved.” “Instead of miners having access to a billion dollars worth of Bitcoin each month, it will be reduced to half a billion. The unprecedented shift from a balance of approximately $15 billion in organic demand and $12 billion in organic supply will inevitably impact the price when one doubles, and the other is halved,”
he elaborated.
Saylor proceeds to characterize the next 12 months for Bitcoin as its “coming-out party,” marking the asset’s transition from “college” to the real world.
In his gaze towards 2024 to 2028, Saylor prognosticates continued high-growth for Bitcoin. He envisions widespread adoption within the big tech industry and mega banks worldwide, anticipating integration into their products and services.
Furthermore, Saylor anticipates intense competition among corporate giants like Apple and Meta (Facebook) for acquiring BTC, ultimately with the aim of substantial profits:
“A fierce competition will unfold among Wall Streeters to secure the lion’s share of assets. Crypto exchanges and other tech companies will join the fray… That will be one aspect.” “The other facet will be when major banks or Bitcoin custodians like JP Morgan, Morgan Stanley, Goldman Sachs, Bank of America, Deutsche Bank, etc., are involved in lending, mortgages, customization, buying, and selling. I believe that will be the second facet,”
he added.
Michael Saylor Forecasts Bitcoin’s Exponential Rise to Millions per Coin in 25 Years
Casting his gaze even further into the future, roughly around 25 years, Saylor paints an ambitious picture for Bitcoin’s trajectory. Emphasizing that BTC will outpace any other high-quality asset, he envisions exponential growth:
“When it reaches that terminal growth rate, maybe 20 or 25 years from now, compounding twice as fast as the S&P 500 Index or any other diversified high-quality portfolio of assets you could invest in…” “Thinking in those terms, one can project continuous progression to a million dollars per coin, $2 million, $5 million, $10 million, and beyond.”
As of November 2, MicroStrategy holds approximately 158,400 BTC, and the company has seen a substantial increase of around $900 million in its investment.
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