Michael Saylor, the notoriously bullish co-founder of MicroStrategy, a leading business intelligence company, has revised his forecast for Bitcoin’s future value. Speaking on July 26th at the Bitcoin 2024 conference, Saylor made the bold prediction that Bitcoin (BTC) could climb to $13 million per coin by 2045, a significant increase from his earlier estimate of $10 million in June this year. He suggested potential for even more significant growth, proposing what he terms a $49 million ‘bull case.’
In an ambitious call to arms, Saylor urged the audience in Nashville, Tennessee, to embrace a “triple maxi” Bitcoin investment strategy. This entails using Bitcoin as an all-asset portfolio, investing extra funds into Bitcoin, and moving to low-tax areas to avoid tax on investments and reinvest savings in more Bitcoin. Implementing this strategy could potentially result in a net worth of $214 million by 2045, according to Saylor.
Saylor explained further, likening physical capital, including real estate, stocks, and bonds, to the laws of thermodynamics, specifically the concept of entropy, which explains the degradation and dissipation of energy over time. The energy and thus ‘value’ of physical assets, Saylor believes, is steadily being eroded due to entropy.
Despite the longevity of physical assets like the UK’s Crown Estate, which has been owned by the Royal Family since 1066, their lifespan is finite. According to Saylor, most physical assets tend to last between 50 and 75 years. Bitcoin, on the other hand, defies these physical limitations of time and degradation, because it exists outside the material world.
In Saylor’s view, Bitcoin is immortal and immutable, unaffected by the physical laws that govern traditional assets. As such, it presents a potential solution to economic dilemmas. His company, MicroStrategy, is one of the world’s leading Bitcoin holders. As of June 20th, the firm held a total of 226,331 BTC, bought for around $8.33 billion, with an average price of $36,798 per BTC.