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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.
It will surprise approximately no one that Michael Saylor remains wildly bullish on Bitcoin BTC$94,465 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.
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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.
Read more: VanEck Sees Bitcoin Hitting $2.9M by 2050 – but a Lot Has to Happen First
Stephen Alpher
Stephen is CoinDesk's managing editor for Markets. He previously served as managing editor at Seeking Alpha. A native of suburban Washington, D.C., Stephen went to the University of Pennsylvania's Wharton School, majoring in finance. He holds BTC above CoinDesk’s disclosure threshold of $1,000.
