Michael Saylor, co-founder and chairman of the hedge fund MicroStrategy, has predicted that $13 million is the Bitcoin (BTC) base case by 2045. This is potentially a $280 trillion market capitalization 21 years away. Between Saylor and BTC, who is smoking something?
Well, Saylor may have just been smoking BTC. A bold BTC believer and bull, Saylor’s prediction is contained in his 27-July-2024 tweet. The tweet contains a graphic table that provides a 21-year price forecast of BTC, comparing BTC price of 2024 and its predicted price by 2045.
Bear, base, or bull, BTC price is forecasted to hit a minimum of $3 Million
Based on the then current price of $65,000 per BTC when market capitalization was up to $1.3 Trillion on 27 July, Saylor’s forecast of BTC in the year 2045 is classified into bear, base, and bull markets.
In a bear market, Saylor forecasts $3 million per BTC in the year 20245.
In a base market, Saylor forecasts $13 million per BTC in the year 2045.
And in a bull market, Saylor forecasts $49 million per BTC in the year 2045.
Read also: What do ‘bull’ and ‘bear’ markets mean and how do you identify them?
Read also: Bitcoin price slides to $53k: Why, and Where Next?
Doubling down on its BTC investments strategy
While the forecasts above most probably look crazy, Saylor is no stranger to making “crazy” predictions about BTC. Beyond making these predictions, Saylor boldly puts his money where his heart is by massively buying BTC.
Considering BTC as a digital gold, Saylor started buying BTC in 2020 with the hedge fund, MicroStrategy.
MicroStrategy, a public company, is one of the largest BTC holders in the world. The company has significantly increased its BTC holdings, acquiring 12,222 BTC in Q2 2024 alone.
In July 2024, MicroStrategy acquired an additional 169 BTC for $11.4 million and now holds 226,500 BTC.
Meanwhile, MicroStrategy is doubling down on its BTC investments strategy as it plans to raise $2 Billion to buy more BTC. It informed the United States Securities and Exchange Commission (U.S SEC) that it is raising $2 billion by selling its class A shares.
Read also: Bitcoin price slides to $53k: Why, and Where Next?
HODL?
Despite some bearish movements in the crypto market within the last few days, BTC price is currently about $60,600 according to CoinMarketCap, at the time of writing. This represents an appreciation of over 107 % in the last one year.
If the current BTC price in 2024 is compared to the BTC price in the year of its humble beginnings in 2009, we will be looking at a bullish price change of about 97837768.36%. This tends to suggest that a long-term holder of BTC cannot be wrong. No financial advice.
Read also: The ‘Tug-o-War’ on Exchanges: A Technical Analysis of Bitcoin Price Action
