- Saylor believes BTC could be valued between $3M to $49M per coin by 2045
- Microstrategy’s exec also shared BTC strategies for individuals, firms, and nations
MicroStrategy’s Chairman and CEO Michael Saylor is still uber-bullish on Bitcoin [BTC]. During his keynote addresss at the Bitcoin 2024 conference in Nashville, Tennessee, the executive projected that BTC could hit $13 million per coin by 2045, in a base case scenario.
“BTC will gradually decelerate till it’s growing about twice as fast as the S&P Index. At that rate, Bitcoin’s $13 million a coin in 2045. It could be a $3M bear case or a $49M bull case.”
Source: Michael Saylor
Given his projections in the past, Saylor’s latest bullish projection is no surprise. In fact, in late 2023, he made one highlighting a price target range of $5M—$10M per BTC, while also reinforcing it in June 2024. His projection was pegged on BTC hitting between 5% and 10% of global wealth.
At the moment, BTC is still below 1% of global wealth. According to the exec, this means there’s a lot of room for growth, given BTC’s technical superiority and scarcity against most physical assets.
And yet, Nashville’s forecast was unique in many ways, especially given its timeline—$13M per BTC in the next 21 years.
Saylor’s Bitcoin insights for individuals, firms, and states
To capitalize on this inevitable long-term value of Bitcoin, Saylor advised individuals, firms, and nations to allocate accordingly.
As far as individuals are concerned, MicroStrategy’s exec urged them to,
“Make BTC your primary treasury asset and convert excess earnings into BTC.”
That being said, he did caution against quitting jobs, leveraging trading, or losing focus on BTC.
Saylor also suggested that firms should convert long-term capital and cash flow into BTC. Additionally, corporations could issue debt or equity to acquire more BTC. In doing so though, he warned that firms shouldn’t waste capital on stock buybacks or taxable dividends.
For perspective, some firms have already adopted MicroStrategy’s Bitcoin corporate strategy, with Japan’s Metaplanet leading the charge overseas. The firm announced its BTC treasury approach in May 2024, with its stock’s YTD (year-to-date) performance now standing at 1,350%.
That frenzy has spread to soccer teams like Red Bedford, which boosted its approach with an extra $4.5 million in BTC in July.
During the speech, Saylor also reiterated that his firm’s strategy has helped MSTR rally by 1300% in 4 years, beating even NVDA’s 956% gains over the same period.
For a successful national Bitcoin strategy for nation-states, Saylor urged reallocating to BTC from Gold/bonds and avoiding hostile policies towards the sector.
Additionally, issuing currency and sovereign debt to buy BTC and integrating the digital asset with the banking sector would be great.
Interestingly, the Bitcoin 2024 conference has been viewed as a bullish catalyst. According to QCP Capital analysts, the Options market expects an upside after Trump’s speech scheduled for 27 July.
“The options desk saw huge topside positioning by big funds for 2 Aug expiry throughout the week, in anticipation of a breakout move by Trump as well as dovish FOMC next Tuesday.”