Anticipating the upcoming Bitcoin halving, Michael Saylor, co-founder of MicroStrategy and a prominent Bitcoin advocate, suggests that demand for BTC may witness a remarkable tenfold increase by the conclusion of 2024.
Speaking at the Australia Crypto Convention on Nov. 10, 2023, Saylor shared his insights on the future of Bitcoin and its ecosystem for the next four to five years. He highlighted the transformative journey of Bitcoin from being perceived as an “offshore unregulated asset” to becoming an “institutionalized mainstream app” between 2020 and 2024.
2024: Saylor Predicts Bitcoin’s Mainstream Rise via Halving
In the short term, Michael Saylor, co-founder of MicroStrategy and a notable Bitcoin proponent, envisions Bitcoin evolving into an “adolescent mainstream asset” by the end of 2024. Saylor emphasized crucial supply and demand dynamics set to unfold, noting that over the next 12 months, monthly demand for Bitcoin could double, triple, or even surge by a factor of 10. This surge in demand aligns with a significant halving event in April, where the available supply for sale will be halved, from a billion dollars to half a billion.
Saylor highlighted the unprecedented nature of this shift, where the balance between approximately $15 billion of organic demand and $12 billion of organic supply undergoes a substantial transformation. With demand potentially doubling and supply halving, Saylor expects a significant upward adjustment in the price of Bitcoin.
Describing the next 12 months as Bitcoin’s “coming out party,” Saylor likened the asset to an individual graduating from “college” and venturing into the real world.
Saylor’s Vision: Bitcoin from Corporate Adoption to Million-Dollar Coins
Looking ahead to 2024-2028, Michael Saylor envisions Bitcoin entering a high-growth phase, penetrating the big tech industry and global mega banks. Saylor predicts fierce competition among companies like Apple and Meta (Facebook) vying for BTC to capitalize on significant profits.
He anticipates a dual-check scenario: one involving competition among Wall Street players and crypto exchanges, and the other when major banks like JP Morgan, Morgan Stanley, Goldman Sachs, Bank of America, and Deutsche Bank actively engage in Bitcoin transactions, loans, mortgages, and customization.
Taking a visionary leap into the next 25 years, Saylor forecasts Bitcoin outperforming any high-quality asset. He suggests that when Bitcoin reaches its terminal growth rate, possibly 20-25 years down the line, it could compound twice as fast as the S&P 500 Index or any diversified high-quality portfolio. Saylor envisions Bitcoin’s value progressing to astonishing figures, potentially reaching a million dollars, $2 million, $5 million, or even $10 million per coin.
As of November 2, MicroStrategy, under Saylor’s leadership, holds approximately 158,400 BTC, boasting a substantial $900 million profit on its Bitcoin investment.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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