With the countdown to the next Bitcoin halving in full swing, excitement is palpable in the cryptocurrency community. Michael Saylor, the co-founder of MicroStrategy and a self-proclaimed Bitcoin bull, shared his bullish outlook during a recent speech at the 2023 Australia Crypto Convention. According to him, the demand for Bitcoin (BTC) could skyrocket by as much as 10 times by the end of 2024!
From Outlaw to Mainstream
Back in 2020, Bitcoin was viewed as an underground asset, like the rebellious teenager sneaking into the party uninvited. Fast forward to now, and Saylor emphasized that Bitcoin is transforming into a respected member of the mainstream financial community. It’s like that teenager got a makeover and is now attending Harvard.
A Dramatic Shift in Supply and Demand
Saylor predicts that the upcoming months will be monumental. He expects demand for Bitcoin to double or even triple on a monthly basis. Now, here’s where it gets juicy: while demand could be increasing significantly, the actual supply available for sale will be halved come April.
- Current organic demand: Approximately $15 billion
- Current organic supply: About $12 billion
- Post-halving supply: Dwindled to half a billion dollars per month
Saylor mused, ‘What happens when one doubles and the other cuts in half? Spoiler alert: the price is going to adjust up.’ Sounds like a rollercoaster ride we all want a ticket for!
Bitcoin’s Coming Out Party
Saylor likened the next twelve months to Bitcoin’s ‘coming out party’—the glorious transition from being an offbeat outsider to an accepted asset in the financial world. It will throw on its best party hat and strut into the mainstream.
The High-Growth Age of Bitcoin
Looking further into the crystal ball of 2024-2028, Saylor envisions a vibrant future where Bitcoin will continue its aggressive growth. The tech giants and mega banks are set to adopt Bitcoin into their services. As Saylor puts it, ‘You’re going to have ferocious competition among Wall Streeters to get the most asset share.’
Five to Twenty-Five Years Ahead: A Million-Dollar Question
Saylor isn’t just thinking a few years down the line. He thinks 25 years ahead! By then, he believes Bitcoin will possibly outstrip any other quality asset class.
He offers staggering projections:
- $1 million BTC?
- $2 million BTC?
- $5 million BTC?
- $10 million BTC?
So, next time someone rolls their eyes at the mention of Bitcoin, just remind them of Saylor’s potential long-term insights—a world where BTC apps are as common as your daily coffee run!
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