Michael Saylor foresees Bitcoin capturing 7% of global wealth

Quick Take

In a recent interview on CNBC, MicroStrategy’s Executive Chairman, Michael Saylor, shared his long-term outlook on Bitcoin. Saylor was asked about Bitcoin’s position as “digital gold” and its potential to capture a portion of gold’s market cap.

He explained that Bitcoin currently represents about 0.1% of global wealth, with a price of around $55,000 and a market cap of just over $1 trillion. However, Saylor believes that Bitcoin’s future is much brighter, predicting that it could rise to 7% of the world’s capital. This would place the price of a single Bitcoin at roughly $2 million, assuming global wealth is approximately $500 trillion. However, estimates of global wealth vary significantly.

Looking even further ahead, Saylor forecasted that Bitcoin could reach a staggering $13 million per coin over the next 21 years. He also touched on Bitcoin’s historical growth rate, noting that while its compound annual growth rate (CAGR) has been around 44%, he expects this to diminish over time.

Ultimately, he believes Bitcoin’s return will align with the S&P 500’s return (approximately 13% CAGR), plus an additional 8%, due to Bitcoin’s global, open nature as a free capital asset.

The post Michael Saylor foresees Bitcoin capturing 7% of global wealth appeared first on CryptoSlate.