Michael Saylor, co-founder and chairman of MicroStrategy, has been a strong advocate for Bitcoin. Since August 2020, MicroStrategy has invested heavily in Bitcoin, acquiring more than 1% of the total supply. With holdings currently valued at over $15 billion, the company’s initial investment of under $35,000 has more than doubled in value.
Saylor predicts that Bitcoin could reach $10 million per coin, citing its potential to surpass traditional store-of-value assets like gold and real estate. He believes that as more people invest in Bitcoin, its price will continue to rise. If you were to purchase $50 worth of Bitcoin today, you could own approximately 0.0007 BTC. If the price were to reach $10 million, your investment would be worth $7,000.
It’s worth noting that Saylor’s bullish predictions are in his company’s best interest, as MicroStrategy has rebranded itself as a Bitcoin development company. While Saylor’s logic is sound, the key to Bitcoin reaching $10 million lies in attracting more investors to the cryptocurrency.
In conclusion, Saylor’s optimism about Bitcoin’s potential for growth is based on its known supply and increasing adoption. As more people invest in Bitcoin, its value could theoretically continue to rise.