- Saylor believes BTC could be worth between $3 million and $49 million per coin by 2045
- The Microstrategy executive also shared BTC strategies for individuals, companies and countries
MicroStrategy’s Chairman and CEO Michael Saylor is still very optimistic Bitcoin [BTC]. During his keynote addresses at the Bitcoin 2024 conference in Nashville, Tennessee, the executive predicted that BTC could reach $13 million per coin by 2045, in a base case.
“BTC will gradually slow down until it grows about twice as fast as the S&P Index. At that rate, Bitcoin would be worth $13 million per coin by 2045. It could be a $3 million bear case or a $49 million bull case.”
Source: Michael Saylor
Given his past predictions, Saylor’s latest bullish projection comes as no surprise. He even made one in late 2023 highlighting a price target range of $5 million to $10 million per BTC, while also strengthening That would happen in June 2024. His projection was based on BTC reaching between 5% and 10% of global wealth.
Currently, BTC is still less than 1% of global wealth. According to the director, this means there is a lot of room for growth, given BTC’s technical superiority and scarcity compared to most physical assets.
And yet Nashville’s prediction was unique in many ways, especially considering the timeline: $13 million per BTC over the next 21 years.
Saylor’s Bitcoin Insights for Individuals, Businesses and States
To take advantage of this inevitable long-term value of Bitcoin, Saylor advised individuals, companies and countries to distribute accordingly.
As for individuals, MicroStrategy’s director urged them:
“Make BTC your core treasury asset and convert excess income into BTC.”
That said, he cautioned against quitting jobs, taking advantage of trading or losing focus on BTC.
Saylor also suggested that companies should convert long-term capital and cash flow into BTC. Additionally, companies can issue debt or equity to acquire more BTC. By doing this, he warned that companies should not waste capital on share buybacks or taxable dividends.
For perspective, some companies have already adopted MicroStrategy’s Bitcoin business strategy, with Japan’s Metaplanet leading the charge abroad. The company announced its BTC treasury approach in May 2024, with the YTD (year-to-date) of its shares performance is now at 1,350%.
That madness has spread to football teams like Red Bedfordwhich strengthened its approach in July with an additional $4.5 million in BTC.
During the speech, Saylor also reiterated that his company’s strategy has helped MSTR grow 1,300% in four years, even surpassing NVDA’s 956% gain over the same period.
For a successful national Bitcoin strategy for nation states, Saylor pushed for a reallocation from gold/bonds to BTC and avoiding hostile policies towards the sector.
Moreover, issuing currency and government bonds to buy BTC and integrating the digital assets with the banking sector would be great.
Interestingly, the Bitcoin 2024 conference is seen as a bullish catalyst. According to QCP Capital analyststhe options market expects an upward trend after Trump’s speech on July 27.
“The options desk saw massive topside positioning all week by major funds for the August 2 expiration in anticipation of a breakout from Trump and the softening FOMC next Tuesday.”