Cryptocurrency

Bitcoin Price To Hit $13M, Michael Saylor Predicts Amid BTC Rally – Crypto News

Published

2 years ago

July 27, 2024

Dripp

In a bold forecast, MicroStrategy’s Michael Saylor predicts Bitcoin price could hit $13 million by 2045. His projection, made during the Bitcoin Conference 2024, comes amid a notable rally in the broader crypto market, sparking widespread discussion. Besides, he also predicts that in an extended rally, BTC could reach as much as $49 million in the same time frame.

Michale Saylor Made Bold Forecast On Bitcoin Price

During his appearance at the Bitcoin Conference, Saylor outlined a macro forecast for Bitcoin. The MicroStrategy co-founder shares his long-term prediction for Bitcoin price, forecasting that its annual growth rate might slow from 55% to 20% by 2045, but it would ultimately drive the cryptocurrency’s value to a staggering $13 million per coin.

Besides, he also mentioned a potential bull case where Bitcoin could reach $49 million by 2045. Saylor has always been bullish on Bitcoin. His company, MicroStrategy, holds a significant amount of Bitcoin, underscoring his confidence in its future.

Meanwhile, Saylor’s latest prediction aligns with his long-term optimistic view, projecting massive growth for Bitcoin despite its volatile nature. In addition, his latest comments have fueled discussions among investors, amid an ongoing rally in the broader cryptocurrency market and BTC price.

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Market Optimism Amid Price Surge

Saylor’s comments come as Bitcoin price soared past $68,000 again today. The surge is fueled by optimism surrounding the Bitcoin Conference and former President Donald Trump’s anticipated appearance. David Bailey, CEO of Bitcoin Magazine, suggested that Bitcoin could hit a new high during Trump’s speech at the event.

Meanwhile, Saylor’s bullish forecast is not surprising given his company’s substantial Bitcoin holdings. MicroStrategy has accumulated 226,331 tokens over the past four years, currently worth about $15 billion, significantly more than the purchase price. This demonstrates Saylor’s belief in Bitcoin’s long-term value and potential as a store of wealth.

However, Saylor also presented a bear case scenario where Bitcoin price could be valued at $3 million, accounting for 2% of global wealth. Despite the varying projections, Saylor’s overall message was clear that Bitcoin’s potential growth is immense, and it could become a significant asset in the global economy.

During writing, BTC price was up 2% and exchanged hands at $68,010, with its trading volume declining 20% to $31.18 million from yesterday. Besides, Bitcoin Futures Open Interest soared nearly 3%, indicating strong market confidence towards the flagship crypto.

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