Bitcoin (BTC) Price Will Hit $13 Million in the Next 20 Years, Predicts MicroStrategy CEO Michael Saylor

Strategy CEO Michael Saylor has once again made a confident prediction regarding Bitcoin's future, stating that the cryptocurrency's price will hit $13 million

Strategy CEO Michael Saylor is known for his bullish outlook on Bitcoin (BTC), and at the recent Digital Asset Summit, he made another bold prediction.

Saylor highlighted Bitcoin’s unique attributes as a scarce digital commodity within the context of an asset class with no true competitors. He also touched upon the cryptocurrency’s legal classification, which is still pending.

“I can stand here and say, I think Bitcoin’s gonna be $13 million in 20 years. I could never say that about security. They’re gonna change the security. But they’re not gonna change Bitcoin. It’s a commodity. It’s defined by Congress. It’s not a security. It’s the ultimate store of value due to its fixed supply.”

According to Saylor, all other commodities could be fabricated with technology, capital, and skill. For instance, if the price of oil were to climb to $1,000 a barrel, then more expensive extraction techniques like fracking, triple-fracking, and hyper-fracking would come into play to increase the oil supply.

The same applied to gold, which saw hyperinflation multiple times throughout history. When the demand for gold outstripped its supply, the Romans used triple-plating for coins, and the Spanish melted down church bells.

But Bitcoin was different and the only real digital commodity. Its 21 million coins were created at the start and the supply was fixed.

As of writing, Bitcoin’s price is 1.8% higher than yesterday’s, trading at $85,208. According to CoinGecko data, it earlier rose above $86,000. However, Bitcoin still trades at 11% lower than a month ago.

Moreover, users of the on-chain prediction market MYRIAD, launched by DASTAN, are still bullish on Bitcoin. More than 74% expect it to close above $83,000 by the end of the week.

The post Strategy CEO Predicts Bitcoin Will Hit $13 Million in 20 Years at Digital Asset Summit appeared first on CryptoSlate.

The post Strategy CEO Predicts Bitcoin Will Hit $13 Million in 20 Years at Digital Asset Summit appeared first on CryptoSlate.