Top Cryptocurrency to Buy Before It Soars 12,000%, According to This CEO

There are few people who can claim to be bigger fans of Bitcoin (CRYPTO: BTC) than Michael Saylor. The CEO of MicroStrategy (NASDAQ: MSTR) has become what could only be described as a Bitcoin evangelist.

Michael Saylor, the CEO of MicroStrategy, is a well-known Bitcoin (CRYPTO: BTC) enthusiast. Over the last four years, his company has been buying up Bitcoin to replace its cash on hand, and in some cases, even taking on debt to buy more Bitcoin. Today, MicroStrategy owns around 1% of the total Bitcoin supply.

Saylor recently gave a keynote speech at the largest Bitcoin conference in Europe, titled “21 Rules of HODLing.” In his speech, he highlighted some of the do’s and don’ts of investing in Bitcoin, shared some lessons he has learned, and offered his thoughts on why he believes BTC could reach $8 million per coin.

Here are some of the key takeaways from Saylor's speech:

In his view, Bitcoin is the premier safe haven asset. Its decentralized and virtually impenetrable network make it immune from the manipulation that has become so prevalent in the current financial system.

As a holder of Bitcoin, you can have confidence that your hard-earned money will be there when you need it, and it will likely be worth more as time goes on. This is because there will only be 21 million Bitcoins created and the rate at which those Bitcoins enter the market is diminishing thanks to the halving.

While terms like “proof of work” and “decentralized networks” might sound abstract to some investors, Saylor elaborated that while the inner workings of Bitcoin might be technical, at its core, Bitcoin is simple, reliable, and constant — something the existing economic and financial landscape cannot claim.

In the current world, economies and markets are pushed, pulled, and manipulated by the regulators and agencies overseeing them, Saylor said. He believes that inevitably, this ends up damaging those forced to play in this unfair game that is prone to inflation, ever-expanding debt, and constantly changing policies.

But with Bitcoin, there is a way out. Holders can rest assured that there will only ever be 21 million coins, that halvings will occur roughly every four years, and that nothing will change no matter who the president, chairman, or director of some agency is. And Saylor believes the world is beginning to recognize this paradigm shift.

As more people come to recognize that the existing financial system is like a leaky ship that doesn’t serve the interests of the common person, Bitcoin will benefit as it is the antithesis to fiat currencies and the ultimate cryptocurrency.

Saylor believes that there are other factors and catalysts that will play into Bitcoin’s growth (i.e., increasing institutional investor interest, financial censorship, and geopolitical instability), but it is the cryptocurrency’s resilience and simplicity that will make it the leader of all assets and is the reason it’s on track to reach $8 million per coin.

Although he didn’t specify a timeline, the CEO likely doesn’t care. As he said in an interview with Fox News a few months ago, “I’ll be buying at the top forever.” This encapsulates his belief that Bitcoin’s unique qualities will position it for everlasting price appreciation as the destruction of the existing financial system continues.

A few things to keep in mind: Saylor’s projection isn’t new or special. Since Bitcoin launched in 2009, there have been thousands of predictions on just how high the cryptocurrency will go. And while there is no telling whether Bitcoin has what it takes to reach $8 million per coin, two things are certain. One, Bitcoin has defied nearly every expectation over the course of its decade-and-a-half life. And two, Bitcoin is still early in its adoption curve.

While it has come a long way and has millions of users around the world, it is on track to be as transformative as the internet and will likely one day reach a similar number of users. Rest assured, even though Bitcoin might not reach Saylor’s optimistic projection, what is certain is that demand for its 21 million coins will come under more and more pressure for years to come.