Michael Saylor: Bitcoin could rise to $13 million in 20 years - The CEO of Strategy sees the cryptocurrency as a unique, fixed store of value in the digital age

Michael Saylor: Bitcoin could rise to $13 million in 20 years - The CEO of Strategy sees the cryptocurrency as a unique, fixed store of value in the digital age

Michael Saylor explains Bitcoin prediction of $13 million in the next 20 years

Michael Saylor, the CEO of Strategy, made a bold prediction for the future of Bitcoin at the Digital Asset Summit. He put the price of the cryptocurrency at an impressive $13 million over the next 20 years.

In his speech, Saylor highlighted Bitcoin's unique properties that make it a scarce digital commodity in the context of an asset class with no real competitors. He expressed: "I can stand here and say I think Bitcoin will be worth $13 million in 20 years."

Store of value through fixed supply

Saylor argues that Bitcoin's fixed supply, capped at 21 million coins, makes it the ultimate store of value. Unlike traditional commodities such as gold and oil, which can be produced in larger quantities as demand increases, Bitcoin's supply remains constant.

He explained that while other goods can be produced with technology, capital and skill. However, if oil prices rise to $1,000 per barrel, more expensive extraction methods such as fracking would be used. Something similar happened with gold, which has suffered several hyperinflations in the past. Bitcoin, on the other hand, is unique and the only real digital commodity.

Currently, Bitcoin stands at a price of around $85,208, up 1.8% compared to the previous day. According to data from Coingecko, the price previously even rose above $86,000, but is still 11% lower than a month ago. Users of the on-chain prediction market Myriad, launched by Dastan, predict that Bitcoin could reach $83,000 by the end of the week.

US government recognizes Bitcoin as a strategic asset

Another point in Saylor's speech was the recent ratification by the US government recognizing Bitcoin as a strategic asset. Saylor pointed to an executive order signed two weeks earlier that aimed to create a strategic Bitcoin reserve. He quoted David Sacks, who described Bitcoin as an asset without an issuer, created through an “immaculate conception.”

According to Saylor, Bitcoin has decentralized value and is considered a store of value, which is why he calls it “digital gold.” He argues that Bitcoin is not only a technology but also a moral phenomenon.

Outlook and conclusion

Although Bitcoin is currently well below Saylor's price prediction, his passionate belief in the cryptocurrency's potential shows that he stands firmly behind his analysis. With Bitcoin's continued recognition in global finance and Saylor's Bitcoin-first approach at Strategy, it remains to be seen whether his $13 million prediction will eventually become a reality.