Renowned Bitcoin (BTC) advocate Michael Saylor has recently made a bold prediction, foreseeing a staggering value of $8 million per coin for the digital asset in the long run. Despite facing some bearish pressure in recent times, Bitcoin continues to have a promising future, with the potential to revolutionize the traditional monetary system.
During a speech at the BTC Prague event, Saylor shared his remarkable journey from being a skeptic of Bitcoin when it was priced at just $892 to eventually understanding its inner workings and buying it at $9,500. Reflecting on this experience, Saylor emphasized the notion that “Everyone gets Bitcoin at the price they deserve.” He suggested that when Bitcoin reaches $950,000, some investors may wait for a dip to $700,000, but it could ultimately soar to $8,000,000 or even higher.
Saylor believes that Bitcoin will continue to appreciate in value, despite skepticism from some quarters, thanks to its intrinsic value and potential for growth. He encourages both retail traders and large corporations to educate themselves about Bitcoin and its future prospects.
In addition to discussing the potential future price of Bitcoin, Saylor highlighted key catalysts such as political and economic turmoil. He pointed out that in times of crisis, like during WW2 or under Communist regimes, Bitcoin could prove to be a more reliable asset compared to traditional investments like real estate, stocks, or gold.
Saylor described Bitcoin as a means to “escape the matrix” – a reference to the current economic system that he believes is based on artificial constructs like GDP, CPI, and endless money printing. Bitcoin, according to Saylor, offers a way to break free from this manipulated system, as it is not influenced by traditional economic indicators that can be manipulated to serve a specific narrative.
Despite its recent price fluctuations, with BTC currently trading at $66,610, Saylor remains optimistic about the long-term outlook for Bitcoin. He believes that the current price range of $65,000 to $72,000 presents a unique opportunity for investors, in line with his bold predictions for the future value of the digital asset.