Bitcoin to Account for 7% of Global Wealth, Surge in Price to $13M in 21 Years: Michael Saylor
The crypto would require an average annual return of 29% between now and 2045 to reach that level, he said.
Jul 26, 2024 at 8:14 p.m. UTC:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/PPYZPKZTXZE4DB7PGVO3MIBUM4.jpg)
It will surprise approximately no one that Michael Saylor remains wildly bullish on Bitcoin (BTC) and the MicroStrategy executive chairman didn't disappoint on Friday, saying he sees the world's largest crypto's price rising to $13 million by 2045 in his base case scenario.
Delivering a keynote address at the Bitcoin 2024 conference in Nashville, Saylor noted that at bitcoin's current price around $65,000, it's got a market cap of $1.3 trillion, or just 0.1% of all global wealth.
For bitcoin to get to his base case of $13 million in 2045, said Saylor, would require an annual rate of return of 29%. At that level, he continued, bitcoin would have a market cap of $280 trillion and account for 7% of global wealth.
In a bull case, Saylor said bitcoin could be worth as much as $49 million and account for 22% of global wealth; his bear case was a value of $3 million and 2% of global wealth.
Under Saylor's leadership, business software company MicroStategy has accumulated a bitcoin stack of 226,331 tokens over the last four years that's currently worth about $15 billion, or roughly 80% more than the cumulative purchase price.
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Stephen Alpher is CoinDesk's managing editor for Markets. He holds BTC above CoinDesk’s disclosure threshold of $1,000.