Michael Saylor Predicts Bitcoin at $5 Million: Here’s Why
Michael Saylor, the former CEO of MicroStrategy Inc. (NASDAQ: MSTR), is making waves with his bold prediction that Bitcoin (BTC) could reach $5 million per unit. This forecast is based on three potential catalysts that he believes could drive this astronomical surge in value.
If 1 BTC were to hit $5 million USD, its fully diluted market capitalization would soar to $105 trillion, a figure that far surpasses the United States’ GDP of $23.32 trillion in 2021. While some view this target as unrealistic, Saylor remains steadfast in his conviction.
MicroStrategy, often seen as an informal spot Bitcoin ETF, currently holds 158,400 BTC worth approximately $5.50 billion, accounting for about 0.8% of the total circulating supply. Under Saylor’s leadership, the company stands to benefit significantly from a spike in Bitcoin’s value.
3 Catalysts for $5 Million per BTC, According to Michael Saylor
During a Twitter Spaces discussion on November 6, Michael Saylor outlined the three catalysts he believes could propel Bitcoin to $5 million per coin:
“[Bitcoin] is going to grind up to replace gold. It will go to $500,000 a coin regardless. But there are three things that are massive catalysts to cause an acceleration. Those three things don’t take us to $500,000, they take us to $5 million a coin.”
— Michael Saylor
Saylor then listed these catalysts as: “A spot ETF where someone can go ahead and buy $100 million in Bitcoin by an ETF security,” “Your bank will custody it for you and lend against it,” and “I can mark it up or mark it down in my balance sheet based on fair value.”
Saylor believes that any of these factors on their own could trigger price increases, but combined, they would create substantial demand for BTC as a store of value asset.
Hot Take: Is Bitcoin Really Heading to $5 Million?
While Michael Saylor’s prediction of Bitcoin reaching $5 million per unit may seem far-fetched at first glance, it underscores the growing confidence and bullish sentiment surrounding the cryptocurrency. As one of its most vocal advocates and with MicroStrategy heavily invested in BTC, Saylor’s outlook reflects a belief in the long-term viability and potential of Bitcoin as a significant store of value. Whether or not this lofty price target will be realized remains uncertain, but it certainly adds an intriguing dimension to the ongoing narrative around Bitcoin’s future trajectory.
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