Bitcoin (BTC) Price Could Hit a Multi-Million-Dollar Value

Market analysts have made several price assertions about the pioneering cryptocurrency, but none have matched the bold calls from Michael Saylor

Market analysts have made several price assertions about the pioneering cryptocurrency, but none have matched the bold calls from Michael Saylor, Strategy’s executive chairman. A few months after predicting a surge to $13 million in 20 years, the Bitcoin evangelist recently upped his outlook.

The Crypto Basic reported that Saylor placed a high-end bet that Bitcoin’s market cap will hit $500 trillion.

This piece analyzes why Saylor shares this view and its price implications for the apex coin.

Is $500T Possible for Bitcoin?

Interestingly, Saylor claims the Bitcoin revolution is unstoppable, branding it the 21st-century asset. He based his $500 trillion market cap predictions on a capital shift from several financial vehicles to the leading cryptocurrency.

The Strategy executive noted that liquidity will flow from foreign fiscal and 20th-century assets to Bitcoin. He predicted that the asset would demonetize every long-term store of value, including gold and real estate.

Moreover, Saylor predicted that Bitcoin is the next evolution of money and would stir a shift from physical to digital assets, attracting staggering inflows from legacy financial instruments. As a result, he urged the United States to stay ahead of the curve and acquire 25 to 30% of the asset’s total cap.

Meanwhile, if Saylor’s assertions prove true, Bitcoin’s limited supply property could spark a supply shock, catalyzing a parabolic price expansion for the premier asset. Notably, recent escalating interest in Bitcoin among nations and large financial institutions suggests it could attain the level of demand the Strategy co-founder projects.

Bitcoin Price If Its Market Cap Hits $500T

For the uninitiated, Bitcoin has a current circulating supply of 19.84 million and a fully diluted supply of 21 million. Hence, a hypothetical market cap of $500 trillion is about 30,860% off its current valuation of $1.615 trillion.

Using its total supply of 21 million BTC and the equation that an asset’s price is a function of its market cap divided by its supply, Bitcoin price would hit $23.8 million at a $500 trillion valuation.

However, a calculation using the current price and circulating supply of $81,401 and 19.84 million would see Bitcoin hit an impressive $25.2 million per coin at a 30,860% surge. These projections remain largely speculative at press time and should not constitute investment advice.