- Saylor projects Bitcoin’s value will soar to $13M, driven by its compound annual growth rate of 44%.
- MicroStrategy’s Bitcoin-focused strategy has increased its stock by 800%, surpassing even Nvidia’s impressive growth.
- Despite recent Bitcoin price drops, Saylor remains confident in its long-term growth, with a $256 trillion market cap forecast.
Michael Saylor, Executive Chairman of MicroStrategy, recently reaffirmed his strong belief in Bitcoin, predicting that the cryptocurrency will reach $13 million per coin within the next two decades. Saylor, known for being the longest-serving CEO of a publicly traded software company, has outlasted 99% of his peers in the sector.
Despite a devastating -99.8% crash in MicroStrategy’s stock price, falling from $333 to $0.42, Saylor’s resilience in the face of adversity has shaped his outlook on Bitcoin, making his confidence in holding the digital asset a key part of his strategy.
Bitcoin’s Path to $13 Million
During a recent interview with CNBC on September 9, Saylor doubled down on his bullish stance on Bitcoin, even as the asset faced a sharp decline. He explained that Bitcoin would maintain its compound annual growth rate (CAGR) of 44% in the near term, though he expects this rate to decline by approximately 5% annually as the asset matures.
The projection of Bitcoin reaching $13 million would bring its market cap to a staggering $256 trillion, which is about ten times the size of the current U.S. gross domestic product. MicroStrategy’s aggressive investment in Bitcoin began in August 2020, positioning the firm as a leader in Bitcoin acquisition, with 226,500 BTC currently valued at $12.8 billion.
MicroStrategy’s Success with Bitcoin Strategy
Saylor pointed out that MicroStrategy’s stock price has surged by over 800% since the adoption of its Bitcoin-centric strategy. This increase has surpassed even the rapid rise of Nvidia, highlighting MicroStrategy’s ability to outperform its competitors in the U.S. equity market.
The company rebranded as a Bitcoin development firm and continues to build on its strategy to maximize returns for shareholders. MicroStrategy began its Bitcoin purchases when the price of the asset was below $12,000, and its bold move has given it a significant edge in the financial markets.
Bitcoin’s Current Market Performance
At present, Bitcoin is priced at $56,339.19, reflecting a slight decline in value. Over the past 24 hours, the cryptocurrency saw a -0.95% decrease, while its seven-day performance shows a -0.60% dip. With a circulating supply of 20 million BTC, Bitcoin’s market cap currently stands at $1.11 trillion.
Despite the recent downturn, Saylor remains unfazed, continuing to emphasize Bitcoin’s potential for substantial long-term growth. The trading volume of Bitcoin within the last 24 hours reached $31.6 billion, further reflecting ongoing interest in the asset.
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