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In a recent interview with CNBC, Michael Saylor, co-founder of Strategy, reiterated his bullish outlook on Bitcoin (BTC), predicting the cryptocurrency could reach a staggering $200 trillion market cap.
Saylor Forecasts $10 Million Per Bitcoin
Currently valued at about $2 trillion, Saylor believes Bitcoin’s trajectory will see it grow to $20 trillion and eventually hit the $200 trillion mark, translating to an approximate price of $10 million per BTC based on its capped supply of 21 million coins.
Saylor attributes this potential growth to a global shift in capital investment, stating, “That capital is coming from overseas… from China, from Russia, from Europe, from Africa, from Asia, from the 20th century to the 21st century.”
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His forecast comes against the backdrop of President Donald Trump’s recent announcement regarding the creation of a Crypto Strategic Reserve, which would include BTC alongside Ethereum (ETH), XRP, Solana (SOL), and Cardano (ADA), which ignited a heated debate within financial and crypto circles.
While Saylor acknowledges the appeal of a Bitcoin-only reserve, he supports Trump’s broader strategy that encompasses multiple cryptocurrencies. He emphasized, “There’s no way to interpret this other than this is bullish for Bitcoin and is bullish for the entire US crypto industry.”
Although some conservatives, such as Coinbase CEO Brian Armstrong and Gemini co-founder Tyler Winklevoss, have advocated for more restrictive, Bitcoin-centric policies, Saylor noted that the president’s approach allows for a more inclusive economic policy.
Saylor Dismisses Volatility Concerns
When asked about his involvement with the White House, Saylor confirmed he has been in discussions with various lawmakers, both Democratic and Republican, as well as members of the Cabinet and administration.
“For the last four and a half years, I’ve been talking about Bitcoin to anybody, anywhere in the world, every day,” Michael Saylor stated during his interview, highlighting his commitment to promoting the cryptocurrency.
Saylor argues that establishing a strategic Bitcoin reserve could provide the United States with significant economic advantages, including the potential to alleviate the national debt.
Saylor posits, “If the United States takes a position in the emerging crypto economy, if it buys up 10, 20% of the Bitcoin network, we’re going to pay off the national debt. And so why wouldn’t that be in the interest of the United States?”
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Addressing concerns about Bitcoin’s notorious volatility, Saylor pointed to its historical long-term gains, asserting, “I don’t think anybody’s ever lost money in the Bitcoin network holding for four years. Presumably, you want to buy Bitcoin, you want to hold it for 100 years.”
The proposal for a US Crypto Reserve is still in its infancy, and Saylor indicated that its success will depend heavily on legislative decisions made in the coming months.
“There are a dozen people on it: the head of the Treasury, the SEC, the CFTC, Commerce, the Attorney General, the President… both the Republicans and the Democrats,” he noted, emphasizing the diverse range of opinions that will influence the outcome.
At the time of writing, BTC has found support at around $83,869 after posting losses of 7% and 6% over the past 24 hours and seven days, respectively.
Featured image from DALL-E, chart from TradingView.com
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