Michael Saylor Predicts Bitcoin Could Reach $13 Million by 2045

Michael Saylor, the executive chairman of Strategy (formerly MicroStrategy), has reaffirmed his bullish stance on Bitcoin, predicting a price surge of 12,328% by 2045. In a recent interview on CNBC’s Squawk Box, Saylor shared his updated outlook for Bitcoin, suggesting that the cryptocurrency could reach $13 million per coin by 2045.

Michael Saylor Makes Bold Bitcoin Prediction

At the 2024 Bitcoin Conference in Nashville, Michael Saylor made his first prediction for Bitcoin which has since evolved. For Bitcoin, he had predicted average annual growth of 29% leading to its price rising to $13 million by 2045.

Nevertheless, Michael Saylor has only become even more bullish since. As such, he now anticipates a 40% annual return which would push Bitcoin to the $13 million target sooner than forecast.

Bitcoin’s institutional adoption, potential regulatory improvements and fixed supply are the core drivers of Saylor’s optimism. Further, more than 100 public companies are already holding Bitcoin on their balance sheets and this number is growing by the week, Saylor has mentioned. His optimistic forecast is built on the increasing institutional interest, coupled with positive regulatory developments.

Saylor’s Reason Behind the Prediction

Michael Saylor believes Bitcoin’s rising adoption by institutions will play a big role in determining its value. He said that more and more public companies are joining in by adding Bitcoin and the trend is getting stronger. Bitcoin ETFs are also helping to increase the popularity and demand for cryptocurrency.

At present, Bitcoin ETFs have gathered $44.29 billion in investments and manage $122.98 billion in assets.
Saylor believes that institutional investors, including pension funds and endowments, are starting to treat Bitcoin like a store of value.

The rising involvement of big institutions with Bitcoin is helping it enter the main financial system. He talked about the significance of Bitcoin being recognized by the U.S. as a leading digital currency in the midst of new rules that allow banks in the country to keep Bitcoin. As a result of these developments, it’s becoming simpler for institutions to begin investing in Bitcoin.

• Bitcoin Supply Dynamics and Strategy Role
  

Michael Saylor pointed to Bitcoin’s limited supply as another key reason for his bullish forecast. With only around 450 Bitcoins made available for sale each day, the supply is constrained. According to Saylor, this daily supply is quickly absorbed by Bitcoin treasury companies and ETFs, which has a significant impact on the price. 

Strategy, Michael Saylor led company, Strategy is still buying Bitcoin and increasing its lead as the top holder among corporations. The organization has just stated that it intends to raise almost $1 billion by offering preferred stock via an initial public offering.

The money raised in this sale will be allocated to company needs, including getting more Bitcoin. This move underlines Strategy’s belief that Bitcoin will increase in value over the long term and mirrors Saylor’s bullish opinion.

Metaplanet And other Bitcoin Purchase Adds to Trend

Other institutional investors are joining Strategy in making major moves in the Bitcoin market. Japanese investment firm Metaplanet has announced plans for $5.4 billion in equity financing which includes buying more Bitcoin. Metaplanet is issuing 5.55 billion new shares using floating strike price warrants, using the market interest in the company and its fluctuating stock to its advantage.

While Bitcoin’s price has settled below $105,000, Saylor is still very positive about it. Nevertheless, during this temporary volatility, Bitcoin is still holding strong, as the amount of Bitcoin on exchanges dropped to a seven-year low, meaning that many institutional buyers are still interested.