Bitcoin (CRYPTO: BTC) Could Soar By 13,800% to $13M Per Coin By 2045, Predicts MicroStrategy's Michael Saylor

Bitcoin (CRYPTO: BTC) is the world's largest cryptocurrency. It has a market capitalization of $1.8 trillion as of this writing, representing more than half of the total value of all coins and tokens in circulation across the industry

According to MicroStrategy (NASDAQ:MSTR) co-founder Michael Saylor, Bitcoin (CRYPTO:BTC) could be poised for a staggering 13,800% surge in the next 22 years. In an interview with Bloomberg on Wednesday, Saylor, a well-known cryptocurrency enthusiast, said he predicts Bitcoin will hit $13 million per coin by 2045.

Saylor, whose firm made a massive bet on Bitcoin during the 2020 pandemic, said he believes the world’s largest cryptocurrency will come to largely replace the U.S. dollar and other fiat currencies. He said he predicts that over time, Bitcoin will absorb most of the capital markets, such as stocks, bonds, and real estate.

“It will absorb the capital markets because Bitcoin is the hardest money, and it’s the most easily transportable across the world legal system,” Saylor said. “The U.S. legal system is the broadest, deepest legal system in the world, and it has the greatest geographic coverage.”

Saylor noted that in the U.S., there are only about 50 to 100 institutions that are authorized to hold the world’s capital, and they are heavily concentrated in a small area of midtown Manhattan. He said this small group of institutions also largely controls the creation of new capital.

“We’re the only people in the world who can create a new corporation, the only people who can value intellectual property, and the only people who can do capital formation and allocate capital across the globe,” Saylor said. “And we’re the only people who can create new property, because real estate is ultimately a creation of the state.”

Saylor added that in the U.S., real estate holdings are encumbered by liens and other claims, which are then used as collateral for loans. He said this process is quite different from how property is handled in other countries, where it is typically owned free and clear.

“If you go to France or Italy or Spain, you buy a property and you own it outright,” Saylor said. “You don't have any liens or claims on the property. But in the U.S., if you buy a property, it comes with a chain of title going back 100 years, and it's all encumbered by liens and claims.”

Saylor said the U.S. legal system is also very expensive and time-consuming, especially when it comes to cross-border transactions. He said this is in stark contrast to Bitcoin, which is a decentralized cryptocurrency with a capped supply and a secure system of record called the blockchain.

“Bitcoin is easily transportable across the world legal system, and it's not encumbered by any liens or claims,” Saylor said. “It's also very low-cost to transact in Bitcoin internationally.”

Saylor said he predicts that over time, Bitcoin will become the primary reserve currency of the world and will be used for most financial transactions. He said he believes this transition will be driven by several factors, including the increasing adoption of cryptocurrency by governments and institutions, as well as the growing awareness of the advantages of a decentralized financial system.

“I think we're going to see a gradual shift over the next 20 to 25 years, and I think it's going to be a very positive development for the global economy,” Saylor said. “I think we're going to see more innovation, more entrepreneurship, and more prosperity as a result of Bitcoin.”

Bitcoin was trading up 0.23% over the past 24 hours at $972.76 on Thursday morning.