During the recent Bitcoin Conference in Nashville, Michael Saylor, the executive chairman of MicroStrategy, projected an optimistic future for Bitcoin, forecasting its market cap to skyrocket to $280 trillion by 2045. During his keynote speech, witnessed by approximately 8,000 attendees, Saylor highlighted the alignment of macroeconomic factors that he believes will catapult Bitcoin to unprecedented heights, outperforming traditional asset classes like art and gold. His prediction suggests a potential 280-fold increase from Bitcoin’s current market capitalization, which stands just above $1 trillion.
Saylor reportedly owns over $1 billion in Bitcoin, and his company, MicroStrategy, has amassed the largest Bitcoin portfolio of any publicly traded company. With about 226,000 Bitcoin valued at roughly $15.3 billion, they lead the corporate world in cryptocurrency investments.
At the annual event, Saylor discussed the challenges faced by the global economy due to reliance on imperfect assets and systems for capital storage. He praised Bitcoin as a superior digital asset with the potential for an extensive, useful life. According to Saylor, Bitcoin could last much longer, while physical assets deteriorate over time due to entropy and external calamities such as wars and natural disasters.
Saylor estimated that Bitcoin held by custodians might have a useful life of around 1,000 years, self-custodied Bitcoin could last for 10,000 years, and when managed by artificial intelligence, its lifespan could extend to 100,000 years. His enthusiastic endorsement of Bitcoin at the conference underscores his belief in its long-term value and durability compared to other asset types.
Will Kennedy’s Bitcoin Proposal & Tax Reforms Revolutionize Crypto?Over the past 24 hours, Bitcoin (BTC) has experienced significant gains, surging above $69,000. The latest price update at press time shows Bitcoin trading at $69,481.85, marking a 3.11% increase within a day. This recent uptick brings Bitcoin’s market capitalization to approximately $1.37 trillion. The volume of Bitcoin traded in the past 24 hours has decreased by 38.48%, totaling around $22.48 billion.
This price movement coincides with a broader market trend. Several cryptocurrencies have shown considerable gains, attributing to a more robust investment interest across the board. As the market continues to monitor these developments, investors remain optimistic about the potential for further growth in Bitcoin’s valuation.
