Michael Saylor Predicts Bitcoin to Reach $13 Million

Bitcoin’s price will soar to $13 million per coin within 21 years, according to MicroStrategy founder Michael Saylor in an interview with Madison Reidy.

This conversation addresses popular myths & risks that hinder #Bitcoin adoption, explains why Bitcoin is the superior digital asset, capital asset, and store of value, and advocates for universal recognition of Bitcoin as sound, clean, digital money essential for human progress. https://t.co/1km8VmoLha

— Michael Saylor⚡️ (@saylor) October 21, 2024

He forecasts that the digital gold will grow at an average rate of 29% annually, leading to the target price.

Previously, Saylor stated that MicroStrategy aims to transform into a leading bitcoin bank with a market capitalization of $1 trillion. The company holds the largest corporate reserves in cryptocurrency, amounting to 252,220 BTC. The firm began accumulating digital gold on its balance sheet in August 2020.

“My shareholders are very optimistic about bitcoin. There is no one who bought [shares of] MicroStrategy and hated cryptocurrency,” the entrepreneur commented.

Saylor views the expansion of institutional adoption as a key driver of price growth. He acknowledged that this requires the use of regulated solutions for asset custody. 

When asked about the risks of government seizure of bitcoins concentrated among a few large custodians, akin to the confiscation of gold in the US during the Great Depression, he expressed no concern. 

On the contrary, Saylor argued that the risk of seizure increases when cryptocurrency is held by “paranoid bitcoin anarchists” who do not recognize government, accountability, and taxes.

In November 2022, amid the collapse of FTX, he emphasized the importance of self-custody of digital assets. A few months later, Saylor opined that stricter regulation is a necessary element for the growth of the crypto industry.  

In August, the entrepreneur confirmed that he personally owns digital gold worth over $1 billion. According to previous statements by Saylor, he holds 17,732 BTC or approximately $1.19 billion at the time of writing.

Back in July, the MicroStrategy founder voiced the prediction of bitcoin reaching $13 million by 2045 at the Bitcoin 2024 conference in Nashville.

The annual event also featured US presidential candidate Donald Trump. Following the meeting, the politician raised over $20 million in donations from the bitcoin community.