Cryptocurrency markets are familiar with the name Bitcoin. At the 2024 conference, he revealed his target. As one of the biggest Bitcoin investors, he is not making an impartial assessment and is making this statement in the hope that his holdings will increase in value. Investors should be aware that the person revealing the target is the famous Michael Saylor.
2045 Bitcoin Price Target
MicroStrategy’s chairman spoke at a Bitcoin event in Nashville on July 26. Former crypto skeptic and a few years Bitcoin bull Michael Saylor believes BTC’s market value will reach $280 trillion by 2045. He expects BTC to surpass valuable categories like art and gold, with an increase of up to 280 times. In this scenario, surviving altcoins could foresee much larger gains.
Of course, we must remember that the person saying this is the chairman of the company that owns MSTR shares, the unofficial proxy BTC ETF. Saylor, who has over $1 billion in Bitcoin holdings, holds much more in his company. The firm has roughly $15.3 billion worth of 226,000 BTC in its treasury.
MicroStrategy’s holdings exceed the entire supply held by the US. It also surpasses the supply held by Mt. Gox before any returns. Considering that there has been a net inflow of $17.5 billion into all BTC ETFs in about 7-8 months, the magnitude of the figure becomes clearer.
Saylor said in his speech;
“The global economy struggles because we rely on flawed assets and systems to store this capital. Wars, famine, and other disasters make value storage difficult as physical risks.”
Lummis and Saylor’s Statements
Saylor says Bitcoin (BTC) stored with artificial intelligence support can be safely kept for 100,000 years. He gives a lifespan of 10,000 years for storage in decentralized wallets. His point is that physical risks are eliminated with crypto. MicroStrategy started accumulating BTC after the pandemic crash in 2020. Since the first purchase in August 2020, the amount of BTC held has exceeded 226,000.
“On August 10 of this year, it will be 48 months since we embarked on this path. The ironic thing is that copying MicroStrategy (referring to their gains in 48 months) is very easy. I just gave you the user manual.”
Senator Lummis was expected to announce a bill allowing the Fed to hold BTC as a reserve asset. However, in her speech on Friday, the Senator did not mention this. Instead, she criticized Biden’s proposal for a 30% tax on crypto miners. Hours later, Trump was set to take the stage as a speaker, and everyone was excited about it.
