MicroStrategy founder and executive chairman Michael Saylor says that younger voters are growing tired of traditional finance and finding Bitcoin (BTC) more attractive.
In a new interview on CNBC, the BTC firebrand says that millennials, people born from 1981 to 1996, are starting to feel that Bitcoin offers many more benefits than traditional finance, including round-the-clock access.
2:45:- “What you have is two constituencies. You’ve got traditional finance, and traditional finance operates 19% of the time. It costs $40 million to take a company public. There’s no credit, there’s no liquidity on the weekend. Bitcoin represents a different thing. It represents the 21st century.
So I think the millennials are looking at the world today, and they think electricity, water, elevators, the internet, they operate 100% of the time. Bitcoin operates 100% of the time. Why are we stuck with 20th century banks, money markets and capital markets that shut us down at 4 p.m. on Friday and don’t open up until 9:30 [a.m.] on Monday? You know, if we did that to your food, your water or your air it would be considered cruel and unusual punishment.”
Saylor recently predicted that BTC would grow by over 19,000% in the next two decades.
In his base-case scenario, the BTC firebrand sees Bitcoin’s annual rate of return (ARR) decreasing over time until the crypto king hits $13 million with a market cap of $280 trillion.
“Here’s my macro Bitcoin forecast: it’s 21 years. It goes out to the year 2045. What do I think will happen? Well, I’ve got a bear case and a bull case.
But what I think will happen is that 55% ARR goes to 50%, 45%, 40%, 35%, 30%, 25%, 20% – it’s between 50% and 20%. It will gradually decelerate till it’s growing about twice as fast as the S&P index.
At that rate, Bitcoin is $13 million a coin in year 2045. It could be a $3 million bear case, it could be a $49 million bull case. But what is Bitcoin? 7% of the world’s asset then.”
Bitcoin is trading for $56,477 at time of writing, up nearly 3% in the last 24 hours.