With’halve Bitcoin’s rise is just a few months away. MicroStrategy co-founder and incurable Bitcoin bull Michael Saylor believes that demand for BTC could increase up to 10x by the end of 2024.
While speaking at the 2023 Australian Crypto Convention on November 10, Saylor was asked to express his thoughts on: Bitcoin predictions and in the ecosystem over the next four or five years.
First, Saylor gave an overview of the period between 2020 and 2024, pointing out how Bitcoin has ceased to be perceived as a cryptocurrency. “unregulated offshore entity” to someone “institutionalized mainstream practice.”
Focusing on the short term, Saylor sees a change in the fate of BTC. “Mainstream asset will emerge by the end of 2024”emphasizing Basic dynamics of supply and demand Coming soon:
“I think the next 12 months will be very important. [su base mensile] It should double, triple, perhaps increase 10 times, from two to ten. […] “The offer for sale will be halved in April.”
“So instead of a billion dollars of Bitcoin available to miners every month, there will be half a billion. It’s pretty unheard of that you start from a supply and demand balance of maybe $15 billion of organic demand and $12 billion of organic bid. What happens if one doubles and the other halves?” “The price will change”added.
Saylor described the next 12 months as a “graduation party” for Bitcoin as the asset leaves “university” and enters the real world.
Looking ahead to 2024 through 2028, Saylor predicts that Bitcoin will continue to be in a strong growth phase as its adoption spreads among the major tech industry and major banks around the world, and as both sectors integrate Bitcoin into their products and services.
Saylor also said that he expects strong competition between companies like Apple and Meta (Facebook) to capture BTC and make huge profits.
“There will be fierce competition and desire among Wall Street players to get the biggest share of the assets. There will be participation from competing cryptocurrency exchanges and other technology companies.”
“The other thing is the big banks or custodians of Bitcoin like JP Morgan, Morgan Stanley, Goldman Sachs, Bank of America, Deutsche Bank and, you know, […] When they give loans and mortgages, they personalize them and buy and sell them. “I think this will constitute the second element.”added.
Pushing forward a time frame of approximately 25 years, Saylor outlined some loud predictions about the future of Bitcoin, underlining that BTC will destroy all other high-quality assets.
“When it reaches its ultimate growth rate, perhaps in 20 or 25 years, it will grow twice as fast or twice as fast as the S&P 500 or a diversified portfolio of other high-quality assets you can buy.”added:
“So in that sense, you just say: […] “Now we’ll double it, we’ll double it again, over and over again, and it’ll keep going until it hits a million dollars, $2 million, $5 million, $10 million.”
MicroStrategy currently holds approximately 158,400 BTC, and as of November 2, the company has earned approximately $900 million on its investment.
Translation by Walter Rizzo