The CEO of the world’s largest publicly traded business intelligence firm says he expects Bitcoin’s price to triple annually until it demonetizes other store-of-value assets.
In a Stansberry Research interview with Daniela Cambone, Michael Saylor explains that Bitcoin is monetary energy that will continue to grow and attract possibly hundreds of trillions of dollars in value on the back of loose monetary policies.
“In a monetary expansion environment where I crank the monetary inflation rate up by 15%, that $300 trillion has got to find a store of value that’s not a fiat derivative. That means that Bitcoin is going to keep growing and its monetary force is going to keep growing and it’s probably going to grow 200% a year until it has demonetized gold, silver, sovereign debt, bond indexes, stock indexes, every source of monetary energy which is just a store of value for someone that doesn’t want to lose their purchasing power and they need a scarce asset.
That being the case, I don’t really see an end to up. I think it’s going to keep going up for the next decade, you know, at a rate that’s pretty commensurate to what it’s been doing for the past decade.”
The Bitcoin bull also points out that the flagship crypto asset bested gold in a period when the precious metal should have shone.
“Bitcoin is up 300% in the last 12 months and gold is up 15%. If you wanted a year when gold should have performed, a year of political instability combined with monetary expansion, this is the best year I can remember in my lifetime. Maybe back in the 70s you had something but in the last 20 or 30 years this is the year gold should have performed and it didn’t.”
In addition, Saylor highlights the attributes that make Bitcoin a better store-of-value asset than gold and real estate.
“Now, why is Bitcoin better property? Well, because it’s pure monetary property in cyberspace. It has no weight. Therefore, I can move it at the speed of light. It has no jurisdiction. Gold has to go into a vault in Manhattan or in London and some banks, some counterparty, and some government has some control. I can’t move a billion dollars of gold with my head in a few seconds from one side of the planet to the other side of the planet…
If you had a hundred million dollars and you bought land in California, the governor of California has some power over the value of the land. The government can impair the asset… With Bitcoin, the government can’t impair the asset so easily. The laws of physics don’t impair the asset and software engineering enhances the asset.”
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