Michael Saylor popular Bitcoin activist and co-founder of MicroStrategy, a business intelligence firm has dropped his latest prediction for Bitcoin price in the ongoing Bitcoin 2024 conference in Nashville.
Michael stated that his forecast for Bitcoin is to be worth over $13 million per coin by 2045 while giving a keynote speech at the Bitcoin conference.
Michael’s latest forecast was an upgrade from his previous forecast in June which pegged the price of Bitcoin at $10 million per coin.
While addressing the audience at the Bitcoin conference, Michael Saylor explained how a crypto enthusiast can manipulate their investment portfolios to free up more cash for Bitcoin investment.
“You financed the house for Bitcoin, you buy Bitcoin, you flip all your assets to Bitcoin, and then you move to a cheap tax jurisdiction where you actually can avoid some taxes and invest an extra fifty grand in Bitcoin,” Saylor explained.
“What’s the result?” A net worth of some $214 million” Michael stated
Michael Saylor recommended the above strategy for corporations and nation-states.
The Problem with physical assets
Michael Saylor went further to explain the problem with physical assets and how they struggle to stand the test of time. Michael Saylor explained that all physical assets from stocks and bonds to supercars are subject to the law of thermodynamics.
“Entropy is diluting the value of physical assets. It’s sucking the capital, the energy out of them,” Saylor explained.
Even in a best-case scenario — such as the United Kingdom’s Crown Estate, which has been held by the Royal Family since 1066 — “physical assets might last 1,000 years, [but] probably about 50 to 75 years is the best you’re going to get,” He added.
Michael Saylor explained that Bitcoin does not have this problem because it is immortal, immutable, and immaterial. He stated that Bitcoin is not in the Physical world and does not face the challenge faced by most physical asset.
Michael Saylor relayed his ideas to the audience at the Bitcoin conference which is touted as the largest Bitcoin gathering with over 20,000 people in attendance.
Donald Trump, the front runner of the US presidential elections slated for November is expected to speak on July 27, the last day of the conference. His speech on Bitcoin is expected by industry watchers to affect the price of Bitcoin.
What to Know
- Michael Saylor’s MicroStrategy is one of the world’s largest holders of Bitcoin. According to CoinTelegraph, the firm holds about 226,331 BTC assets acquired at the average price of $36,768.
- Michael Saylor is a top voice in the crypto industry and one of the biggest promoters of Bitcoin.
