In brief
- Michael Saylor thinks Bitcoin will rise to around $150,000 by the end of the year, thanks to diminishing volatility.
- The Strategy founder predicts BTC will hit $1 million per coin in the next four to eight years.
- Saylor also said the last 12 months have been the best in the history of the crypto industry.
Bitcoin’s slump from its October all-time high above $126,000 hasn’t fazed Strategy Executive Chairman and co-founder Michael Saylor, who still expects the leading crypto asset to grind to a record price of $150,000 by the end of the year.
Chatting with CNBC at the Money 20/20 fintech conference in Las Vegas, the Bitcoin bull highlighted diminishing volatility and a clearer market structure as reasons for optimism.
“I think Bitcoin is going to continue to grind up,” Saylor said. “Volatility is coming off of it as the industry becomes more structured with more derivatives and ways to hedge it. Our expectation right now is [at the] end of the year it should be about $150,000.”
Bitcoin has jumped nearly 54% in the last year, stabilizing above $100,000 as it changes hands around $111,000 on Wednesday.
In the future, Saylor is thinking even bigger.
“I don’t know why it won’t grind up to a million dollars a coin over the next four to eight years,” he added. “And of course, my long-term forecast is it goes up about 30% a year for the next 20 years, and we’re headed towards $20 million Bitcoin.”
The Strategy frontman called the last 12 months the best in the crypto industry’s history, citing the White House’s endorsement of BTC as digital gold, the SEC’s expectation and support of tokenized equities, and the Secretary of the Treasury’s acceptance of stablecoins.
Regardless of price, Saylor said he and his firm will be “buying the top forever,” or in other words, purchasing BTC regardless of how high the price goes.
The Tysons Corner, Virginia-based firm has already amassed a treasury of more than $71 billion worth of Bitcoin, making it the largest publicly traded Bitcoin treasury in existence and a pioneer in the digital asset treasury market.
That trend will only continue to grow according to Saylor, who added that he didn’t know why forward-thinking companies wouldn’t hold digital assets on their balance sheet.
Shares in Strategy (MSTR) closed down 3.26% today, changing hands at $275.36. The Bitcoin-adjacent equity is up around 11% in the last year, compared to nearly 54% for BTC.
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