Strategy CEO Michael Saylor once again confidently predicts Bitcoin’s future, saying cryptocurrency prices will reach $13 million over the next 20 years.
In his speech at the Digital Asset Summit, Saylor reiterated how the singular attributes of Bitcoin as a rare digital product within the context of an asset class without a true competitor is attractive..
“I stand here and think Bitcoin will be $13 million in 20 years. “I never said about security,” Saylor said he emphasized the legal classification of Bitcoin as a product rather than security.
Bitcoin has the ultimate store of value for fixed supply
Unlike traditional commodities such as gold and oil, Saylor believes that 21 million coins in a fixed supply of Bitcoin will become the sole storage of value. Unlike these assets, which can be manufactured in large quantities when demand rises, Bitcoin supply is fixed.
According to Saylor, all other products could be manufactured with technology, capital and skill. However, if oil prices rise to $1,000 per barrel, more expensive extraction techniques such as fracking, triple fracking and hyperfracking will emerge. He said the same thing went with money too. But Bitcoin was different and the only real digital product.
At the time of writing, Bitcoin prices are 1.8% higher than yesterday, trading at $85,208. According to Co Ringecko Data, previously exceeded $86,000. However, Bitcoin continues to trade at 11% lower than a month ago.
Users of the on-chain forecast market Myriad market, launched by Dastan, are still bullish on Bitcoin. We expect over 74% to close above $83,000 By the end of the week.
The US government has recognized Bitcoin as a strategic asset
Saylor also referred to recent ratifications by the US government and admissions as a strategic asset for Bitcoin. He cited it as an executive order for President Donald Trump, who created the strategic Bitcoin Reserve.
Saylor says the president signed an executive order two weeks ago to create a strategic reserve for Bitcoin. He cites David Sachs, who claimed that Bitcoin is an asset without an issuer and claimed it was created through the “concept of the Immaculate Conception.” Speaking about Bitcoin, Saylor says it is known as a decentralized and valuable store. Therefore, he describes it as “digital gold.”
Bitcoin is an ideology, a protocol, and a moral phenomenon. It cannot be changed and cannot be changed. Saylor also announced the truth about ’21 Bitcoin, reiterating that Bitcoin plays a major role in the global financial world.
Bitcoin is significantly lower than Saylor’s noble forecast, so time alone can tell if a $13 million price tag forecast will come into effect. Still, his belief in the potential of cryptocurrency remains unshakable, continuing to spell his Bitcoin-first approach with strategy.
