MicroStrategy CEO Michael Saylor believes a seven-digit price tag is in Bitcoin’s future.
In a new interview with FamilyOffice, Saylor says the flagship crypto asset could appreciate a hundredfold to reach a price of $5 million per unit.
“I can see bitcoin going to a million. I can see it going to $5 million… because if it simply replaces all the indexes as a monetary index money, why shouldn’t it go to $100 trillion in market cap or something?”
Saylor, whose company MicroStrategy now owns 91,326 Bitcoin, points out that the flagship crypto asset is currently a “screaming signal” to investors, and this is aided by a rapid expansion in the money supply globally and the dominance of its blockchain network.
“In my life I’ve never seen something that was such a screaming signal. You’ve got a $200 to $300 trillion addressable market. You’ve got a problem – money is not sound. You’ve got engineered thermodynamically sound money. You’ve got a dominant network. Everybody’s decided it’s the network. It’s exploding.
The signal that is exploding is it’s growing 200% a year every year for 12 years running. That’s the signal.”
Saylor predicts that the flagship crypto asset’s growth rate is unlikely to be replicated by the FAANG (Facebook, Amazon, Apple, Netflix, Google) tech behemoths going forward, making Bitcoin the better bet.
“Now do I think Apple, Amazon, Facebook or Google are going to go up by a factor of 10 from this point? Not really. I think they’re plus 20, minus 20, plus 100… maybe they will double, maybe they will triple.”
Saylor adds that Bitcoin’s potential became far easier to understand following the economic fallout and increase in money printing that began early last year.
“[Bitcoin] got to be a much easier trade in March of 2020. And every month since March of 2020, it’s been de-risked exponentially, and then the need is exploding.”
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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