Bitcoin‘s halving event is counting down. Michael Saylor, co-founder of MicroStrategy, claimed that investor demand for Bitcoin could increase up to 10 times by the end of 2024. Saylor revealed his views on Bitcoin and the cryptocurrency ecosystem during a speech at the Australia Crypto Convention on November 10, 2023.

Michael Saylor’s Striking Prediction

Saylor first highlighted the period between 2020 and 2024, noting that Bitcoin has transformed from an unregulated asset to a mainstream commodity. Sharing his thoughts on the near future, Saylor said that Bitcoin will become a popular investment tool by the end of 2024, emphasizing the fundamental dynamics surrounding supply and demand that will soon come into play:

“The next 12 months will be a significant period. Demand should double or triple on a monthly basis, maybe even increase 10 times. The supply ready for sale will decrease by half in April. Instead of miners receiving one billion dollars in Bitcoin rewards each month, it will be reduced to half a billion dollars. Achieving a balance between organic demand of around 15 billion dollars and organic supply of 12 billion dollars is unprecedented. What happens when one doubles and the other halves? The price will adjust upwards.”

Where Will Bitcoin Be in 25 Years?

According to Saylor, from 2024 to 2028, the Bitcoin ecosystem will continue to be in a high-growth phase as it is adopted by the major technology industry and mega banks worldwide, with both sectors integrating Bitcoin into their products and services.

Saylor also believes that there may be competition among companies like Apple and Meta regarding Bitcoin, and these companies will eventually move to sell their assets for significant profits. Regarding this matter, Saylor stated:

“There will be fierce competition and desire among Wall Street players to have the largest share of assets, crypto exchanges will compete, and other technology companies will also get involved.”

Looking at the long term, approximately 25 years into the future, Saylor emphasized that Bitcoin will surpass all other commodity assets and made some high predictions about Bitcoin’s future:

“When it reaches this ultimate growth rate, maybe in 20 or 25 years, it will be growing or compounding at twice the rate of the S&P 500 Index or other diversified high-quality asset portfolios you can purchase.”

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