Michael Saylor, co-founder, and chairman of MicroStrategy, recently made a bold prediction for the future price of Bitcoin. In a tweet, Saylor stated that “$13 million is the Bitcoin Base Case.” He accompanied his tweet with a graphic that outlines Bitcoin’s 21-year price forecast, comparing the price in 2024 to estimates for 2045. The base case scenario predicts a price of $13 million for Bitcoin in 2045, with a bear case of $3 million and a bull case of $49 million.
Saylor’s prediction is based on Bitcoin’s qualities as a digital asset and its potential for adoption as a form of digital capital. He began buying Bitcoin in 2020 as an inflation hedge and cash alternative, and his company, MicroStrategy, is one of the largest public holders of Bitcoin. As of June 20, MicroStrategy owned 226,331 BTC purchased for around $8.33 billion at an average price of $36,798. Saylor’s bold price prediction for Bitcoin has captured the attention of the crypto community and sparked discussions about the future trajectory of the leading cryptocurrency.
In addition to Saylor’s prediction, asset manager VanEck also made a surprising Bitcoin price forecast. VanEck projected that Bitcoin’s price could reach $2.9 million by 2050 if certain hurdles are overcome. The asset manager also suggested that Bitcoin could settle 10% of international trade and 5% of domestic trade gains by 2050, with central banks holding it as a reserve asset. These optimistic predictions have heightened interest in the long-term potential of Bitcoin as a digital currency and store of value.
While long-term forecasts like those from Saylor and VanEck are generating excitement in the crypto community, short-term sentiment towards Bitcoin remains cautiously optimistic. According to Santiment, Bitcoin’s recent price rebound has led to a significant shift in traders’ sentiment, with many feeling more bullish than they have in 16 months. Despite this positive sentiment, Bitcoin experienced a slight decrease of 0.83% in the last 24 hours, with a price of $67,489 at the time of writing, according to CoinMarketCap data.
Overall, the future of Bitcoin’s price remains uncertain, with varying predictions from experts and analysts. However, the growth potential of Bitcoin as a digital asset and store of value is clear, with proponents like Michael Saylor and VanEck making bold predictions for the cryptocurrency’s future price. As Bitcoin continues to gain traction and adoption, its price trajectory will be closely monitored by investors, traders, and enthusiasts alike, eager to see if these ambitious forecasts will come to fruition in the years to come.
