MicroStrategy co-founder and renowned Bitcoin advocate Michael Saylor anticipates a substantial surge in Bitcoin demand, potentially reaching up to 10 times its current level within the next 12 months. Speaking at the 2023 Australia Crypto Convention on November 10, Saylor shared his insights on the future trajectory of Bitcoin.
Saylor began by highlighting Bitcoin’s evolution from an “offshore unregulated asset” to an “institutionalized mainstream app” between 2020 and 2024. Focusing on the near future, he predicted that Bitcoin would transition into an “adolescent mainstream asset” by the end of 2024, emphasizing key dynamics related to supply and demand.
According to Saylor, the coming 12 months could be a significant period for Bitcoin, as monthly demand is expected to double, triple, or even increase by a factor of 10. Simultaneously, the available supply for sale will be halved in April due to the upcoming Bitcoin halving event. Saylor pointed out the unprecedented nature of this scenario, where organic demand and supply could see a substantial shift, potentially impacting Bitcoin’s price.
Describing the next year as Bitcoin’s “coming out party,” Saylor likened the asset’s growth to graduating from “college” and entering the real world. Looking ahead to 2024-2028, he foresaw continued high-growth for Bitcoin, with major tech companies and mega banks globally integrating Bitcoin into their products and services.
Saylor anticipated intense competition among companies like Apple and Meta (Facebook) to acquire Bitcoin for substantial profits. Additionally, he highlighted the involvement of Wall Street, crypto exchanges, and major banks like JP Morgan and Goldman Sachs, expecting them to play a pivotal role in shaping Bitcoin’s future.
Taking a long-term perspective, Saylor made ambitious predictions for Bitcoin’s future, suggesting that it could outperform any other high-quality asset. He envisioned Bitcoin reaching astronomical values, stating that it could progress to a million dollars, $2 million, $5 million, or even $10 million per coin over the next couple of decades.
As of November 2, MicroStrategy, under Saylor’s leadership, holds approximately 158,400 BTC, experiencing significant gains on its initial investment.
