In a recent interview with Fox Business, Michael Saylor, founder and chairman of MicroStrategy, expressed an ambitious view of Bitcoin (BTC), predicting a significant increase in its total market value in the next 21 years.
This forecast is in line with MicroStrategy’s ongoing strategy to strengthen its Bitcoin acquisition program, which has had a significant impact on the company’s stock performance, which is closely linked to Bitcoin’s price movements.
Saylor Sees Bitcoin Price Rise to $13 Million
Bitcoin has already reached an estimated value of $2 trillion, with its price hitting a new record high of $104,000 on Thursday. However, Saylor expects that another $200 billion will be added to the Bitcoin market by 2045, driven largely by global inflationary pressures.
According to to Saylor, many investors are moving away from traditional assets in favor of Bitcoin, viewing it as a viable global financial asset. He argues that as more money flows into Bitcoin, its growth trajectory will overtake equities, gold, and real estate.
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Examining some price predictions, Saylor posited that bitcoin could reach $13 million per token. This would represent a growth of 12,384% if Saylor’s forecast comes true, potentially making it the world’s largest fund.
Saylor bases this estimate on analysis that suggests Bitcoin has historically grown at an average annual rate of 29%. This growth, he says, could continue, leading to a target balance in 2045.
NewsBTC previously report that Saylor believes that Bitcoin represents only 0.1% of the global currency market, but thinks that number rises to 7%.
Saylor also provides a detailed analysis of Bitcoin’s growth, detailing a four-year projection with a growth rate that may start at 44% and gradually increase to 30%.
Contrary to the perception of Bitcoin as a high risk materialSaylor emphasizes its strength as a safe haven for risk-averse investors, highlighting the growing need for safety in investment choices.
MicroStrategy Increases BTC Purchases
The latest social media updateSaylor shared the company’s performance following three years of strategic Bitcoin investing. He announced that for the year to date, MicroStrategy’s treasury operations have delivered a positive BTC yield of 63.3%, resulting in a net gain of approximately 119,800 BTC for shareholders.
At a price of $103,000 per BTC, this translates to an estimated $12.3 billion in annual returns, placing MicroStrategy as one of the most profitable and fastest growing companies operating under the “Bitcoin Standard.”
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On Monday, MicroStrategy it was revealed that it has significantly increased its BTC purchases, surpassing the milestone of 400,000 BTC in its portfolio.
The company sold 3.7 million shares of its stock, making about $1.5 billion in Bitcoin repurchases. This marks the fourth consecutive week of Bitcoin purchases by the company.
As of November 11, MicroStrategy has invested more than $13.5 billion in Bitcoin across three different transactionswhich brings the total holdings to about $38 billion, or 402,100 BTC, with an average purchase price of $56,658 per coin.
BTC is trading at $101,628 at the time of writing, recording a 6% increase in the 24-hour period.
Featured image from DALL-E, chart from TradingView.com
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