Here's How Much $50 Of Bitcoin Could Be Worth If Michael Saylor's Prediction Is Correct

Michael Saylor is the co-founder and chairman of MicroStrategy, a software development company that has strongly emphasized Bitcoin in recent years.

Michael Saylor, the co-founder and chairman of MicroStrategy (NASDAQ:MSTR), has a bullish price prediction for Bitcoin. Saylor, who has been heavily emphasizing BTC in recent years, frequently discusses his optimistic views on the leading digital asset in various podcasts and on social media.

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"I think it keeps going up forever. I mean, there's no reason we can't go to $10 million a coin," Saylor said on the Lex Fridman podcast.

This is just one of the several times that Saylor has mentioned $10 million as a price target for Bitcoin. Each time he applies a similar logic to explain his reasoning.

Saylor points out that much of the world's wealth is in value-storing assets, such as gold, art, and real estate. He believes that Bitcoin will soon overtake these other assets as a better store of value, as the code determining Bitcoin's supply is entirely available and predictable. He argues this is the most reasonable way to invest in a store-of-value asset. He believes that as more people learn about Bitcoin, more people will continue to invest in the asset, increasing the price.

"The code is the law. It's available to everybody, and everybody can inspect it. Everybody can verify that there will never be more than 21 million Bitcoin. Everybody can see the monetary policy, which is designed to be boring and predictable. And everybody can see the supply and demand model, which is designed to keep going up in price forever," Saylor said on the Lex Fridman podcast.

Saylor also noted that Bitcoin is designed to be sound money, which is something that people have been searching for throughout history. He believes that once people realize that Bitcoin is the best way to invest in a store-of-value asset, everybody will want to own some BTC.

"Everybody's been looking for sound money for 5,000 years. And once they find it, they're not going to let go of it. They're going to want to own some of it," Saylor said on the Lex Fridman podcast.

If you bought $50 worth of Bitcoin today, you could own approximately 0.0007 BTC. If the price of Bitcoin goes to $10 million, which would increase nearly 14,000%, your 0.0007 BTC would be worth $7,000.

It is also important to note that Saylor has a vested interest in making Bitcoin attractive to prospective investors, as he and his company would benefit from price increases. He has rebranded MicroStrategy into "the world's first Bitcoin development company," meaning that the company would further benefit from increased Bitcoin adoption. Taking Saylor's predictions with a grain of salt is important, as bringing in more Bitcoin investors is in his best interest.

Saylor's logic is sound. With Bitcoin's known supply, the price could theoretically continue to rise in perpetuity if more people invest. Getting more people to invest is the only hang-up to reaching the $10 million mark.

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This article Here's How Much $50 Of Bitcoin Could Be Worth If Michael Saylor's Prediction Is Correct originally appeared on Benzinga.com

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