Bitcoin to Account for 7% of Global Wealth, Surge in Price to $13M in 21 Years: Michael Saylor

It will come as no surprise to anyone that Michael Saylor is still very bullish on Bitcoin {{BTC}}, and the MicroStrategy Chairman did not disappoint on Friday, saying that the price of the world’s largest cryptocurrency would rise to $13 million by 2045 under his base case scenario.

Speaking at the Bitcoin 2024 conference in Nashville, Saylor said Bitcoin’s current price is around $65,000 and its total market value is $1.3 trillion, which corresponds to only 0.1% of global wealth.

Saylor said it would take a 29% annualized rate of return for bitcoin to reach its base case of $13 trillion in 2045. At that level, he said, bitcoin would have a market cap of $280 trillion and account for 7% of global wealth.

Saylor said that in a bull scenario, Bitcoin could be worth $49 million and account for 22% of global wealth; in a bear scenario, it could be worth $3 million and account for 2% of global wealth.

Under Saylor’s leadership, business software company MicroStategy has amassed a bitcoin hoard of 226,331 tokens over the past four years, which is now worth around $15 billion, or about 80% more than the total purchase price.

Read more: VanEck Predicts Bitcoin Will Reach $2.9 Million by 2050 — But Much Needs to Happen First