- Saylor, Chairman of MicroStrategy, stated that BTC could reach around $13M per coin by 2024 in a base scenario.
- Saylor encouraged the crowd to go all-in on Bitcoin, to the point of even converting their assets to BTC.
- Other speakers like former President Trump took the stage and encouraged the crowd to never sell their BTC holdings.
The Bitcoin 2024 gathered renowned industry leaders, founders, and even pro-crypto politicians. Among them are the former US president and Republican candidate Donald Trump, and MicroStrategy’s co-founder and Chairman, Michael Saylor.
Michael Saylor made a bold prediction regarding BTC’s future price, stating that the leading crypto asset could reach US$13M (AU$19.8M) per coin in the “base” case.
The company, one of the largest institutional Bitcoin holders, has a portfolio of 226,331 BTC. This figure was achieved in mid-June when the company purchased over 11,900 BTC at an average price of around US$65K (AU$98K).
Related: MicroStrategy Boosts Bitcoin Holdings with $786 Million Purchase, Totalling 226,331 BTC
Up to US$49M Per Coin
During his speech at Bitcoin 2024, Saylor compared the cryptocurrency to physical assets, saying they could last a thousand years, but the average person could last “50 to 75 years at best.” However, Bitcoin is “immortal, immutable, and immaterial” and the solution to “our economic dilemma.”
Further, Saylor published an infographic showcasing Bitcoin’s price and market cap in 21 years, divided into three scenarios, bear, base, and bull. In the bull case, Bitcoin would have a market capitalisation of US$1,030T and a price per coin of US$49M. Meanwhile, the Base case would see Bitcoin reach US$13M and a $280T market capitalisation.
Moving on, Saylor also encouraged attendees to adopt what he calls a “triple maxi” approach to BTC investment, in which people go all out with Bitcoin purchases by financing their homes and converting all assets to BTC, and even relocating to tax-favourable countries or jurisdictions to max out BTC investments.
“You financed the house for Bitcoin, you buy Bitcoin, you flip all your assets to Bitcoin […] and then you move to a cheap tax jurisdiction where you actually can avoid some taxes and invest an extra fifty grand in Bitcoin.”
Michael SaylorNever Sell Your Bitcoin, Trump Says
Donald Trump also took the centre and discussed many key points, including his views on the Democratic Party’s potential candidate, Kamala Harris, and his promise to end their “anti-crypto agenda,” as well as his establishment of a Bitcoin advisory council.
Trump, who seems to have made a full recovery from getting shot two weeks ago, also promised to keep the 200K BTC seized and held by the US government. In other words, he’s never selling.
Related: Trump Urges to ‘Keep Your Bitcoin’ Because US Will Be ‘Crypto Capital’, Announces Plans to Make BTC a Strategic Reserve Asset
As if that weren’t enough, Trump also reassured the audience that if elected in November, he would hire a new Securities and Exchange Commission (SEC) chair.
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