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

Here’s How Much Could $50 Of Bitcoin Be Worth If Michael Saylor’s Prediction Is True?

Michael Saylor is the co-founder and president of MicroStrategy, a software development company that has placed a strong emphasis on Bitcoin in recent years. The company began investing in Bitcoin in August 2020 and has continuously purchased the token since then. MicroStrategy has purchased more than 1% of the Bitcoin supply, worth more than $15 billion at current prices.

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MicroStrategy purchased the tokens for less than $35,000; This means that the position has increased by more than 100% in total. Additionally, the company used convertible notes to finance Bitcoin purchases; This was a bit of a risky move and it worked out in MicroStrategy’s favor.

Saylor has become an extremely outspoken advocate of Bitcoin; He constantly posts on social media and discusses his positive views on Bitcoin and crypto in different podcasts.

“I think it’s going to keep going up forever. I mean, there’s no reason why we can’t get to $10 million per coin,” Saylor said on the Lex Fridman podcast. This is just one of several times Saylor has mentioned $10 million as a price target for Bitcoin. Each time he applies similar logic to explain his reasoning.

Saylor points out that most of the world’s wealth is in assets that store value, such as gold, art and real estate. He believes that Bitcoin will soon surpass other assets as a better store of value because the code that determines Bitcoin’s supply is fully available and predictable. He argues that this is the most sensible 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 and the price will increase.

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

It’s also worth noting that Saylor has a vested interest in making Bitcoin attractive to potential investors; because he and his company will benefit from price increases. rebranded MicroStrategy as “the world’s first Bitcoin development company”; This means the company will further benefit from increasing Bitcoin adoption. It’s important to take Saylor’s predictions with a grain of salt because it would be in Saylor’s interest to attract more Bitcoin investors.

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Saylor’s logic is sound. With Bitcoin’s known supply, the price could theoretically continue to rise indefinitely if more people invested. Getting more people to invest is the only obstacle to reaching the $10 million mark.

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This article Reveals How Much $50 Bitcoin Could Be Worth If Michael Saylor’s Prediction Is Correct was originally published on Benzinga.com

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