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    Michael Saylor predicts Bitcoin price to surge to $13 million in 21 years: Here’s why

    Michael Saylor, executive chairman of MicroStrategy, has made a bold prediction about Bitcoin’s future, forecasting a dramatic rise in its value.

    Saylor believes Bitcoin will capture 7% of global capital and outpace other investment assets.

    Currently trading just under $55,000, Bitcoin’s price is set to skyrocket by 70-fold, reaching approximately $3.85 million per coin shortly, according to his projections shared with CNBC.

    Saylor attributes this expected surge in Bitcoin’s price to its technological edge over other assets and its impressive historical returns.

    Since MicroStrategy began accumulating Bitcoin in August 2020, the cryptocurrency has delivered an average annual return of 44%.

    In contrast, the S&P 500 index has yielded an average annual return of 12% over the same period.

    I enjoyed the opportunity to discuss #Bitcoin and strong, fast, smart money with @JoeSquawk, @BeckyQuick, and @AndrewRSorkin this morning,

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    Bitcoin price prediction: MicroStrategy’s approach

    The founder of MicroStrategy also highlighted the company’s strategic approach to Bitcoin investment.

    By issuing convertible bonds to raise capital and further invest in Bitcoin, MicroStrategy has achieved a staggering 825% return on its capital.

    For comparison, Nvidia, recognized as the S&P 500’s top-performing stock, has realized a return of 821%.

    Saylor also addressed recent market dynamics, including significant outflows from Bitcoin exchange-traded funds (ETFs).

    Last week, Wall Street saw $1.2 billion withdrawn from Bitcoin ETFs amid global financial market volatility.

    This trend has contributed to the second-largest week of outflows in crypto products this year, according to Bloomberg.

    Despite these short-term challenges, Saylor believes such market fluctuations will ultimately drive greater demand for Bitcoin.

    Looking ahead, Saylor’s perspective on Bitcoin’s future is grounded in his belief that long-term holders, or “HODL’ers,” will outperform those who focus on short-term trading.

    The term “HODL,” a misspelling of “hold,” reflects a commitment to maintaining a long-term investment stance on digital assets.

    Saylor’s immediate and long-term BTC price forecast

    While Saylor’s immediate forecast places Bitcoin’s price near $4 million, his long-term projection is even more ambitious.

    He anticipates Bitcoin reaching $13 million per coin within 21 years.

    Currently, Bitcoin’s market capitalization is approximately $1 trillion, representing just 0.1% of global capital. However, Saylor is confident that this figure will rise significantly, surpassing 13% of global capital by 2050.

    In summary, Saylor’s predictions reflect a bullish outlook on Bitcoin’s future value, driven by its technological advantages and historical performance.

    Despite recent market volatility and ETF outflows, the long-term potential for Bitcoin remains robust, with expectations for substantial growth in its global market share.

    The post Michael Saylor predicts Bitcoin price to surge to $13 million in 21 years: Here’s why appeared first on Invezz

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