By Key Points
- Michael Saylor believes that each Bitcoin will be priced at $10 million.
- He dubs Bitcoin “perfect money” as opposed to traditional currency.
- Saylor thinks that China will adopt Bitcoin irrespective of prevailing controls.
- Investing in Bitcoin could lead to “corporate immortality”
The audacity of Michael Saylor’s prophesying
Michael Saylor, the executive chairman and co-founder of MicroStrategy, has made a sensational prediction that bitcoin will hit 10 million dollars per coin. He shared this forecast during a recent podcast with Robin Seyr where he talked about how it can overtake traditional currencies and change the global financial system as we know it.
MICHAEL SAYLOR PREDICTS BITCOIN TO REACH $10M PER COIN
– Michael @Saylor, Executive Chairman of MicroStrategy, recently shared his bold prediction that Bitcoin will reach $10 million per coin.
Corporate Mortality and Bitcoin’s Solution
– Saylor explained that most companies… https://t.co/L6myBaW5at pic.twitter.com/VjXfcOxZUk
— BSCN (@BSCNews) June 24, 2024
The concept of “perfect Money”
Saylor predicts the price increase based on what he calls the perfect money theory. According to him, bitcoin is superior to all other forms because they are decentralized and has limited supply whereas traditional ones are imperfect owing to their centralized nature where governments control printing presses thus causing inflation which reduces value over time.
“What is perfect Money versus Imperfect Money? Perfect Money is Economic Immortality. Imperfect money is: we all have a short, brutal life,” says Mr.Sailor. In his view not only has this but even previous economic systems become obsolete once bitcoins were created since according to him there never existed any valid theories prior to its invention by someone known as Satoshi Nakamoto who still remains anonymous up to now.
Besides, he also criticized traditional economics as a quasi-religious liberal art filled with subjective opinions and biases. Therefore, before the emergence of Bitcoin all these were just primitive ways of doing things which were based on seashells and glass beads.
China’s Potential Embrace Of Bitcoin
Another interesting thing he mentioned is that China will eventually support bitcoin despite its current strict rules regarding cryptocurrencies. He said he believes in people’s ability to recognize the value behind bitcoins including those living in China because according to him this world we are living in everything revolves around money which means even governments can’t ignore such an important aspect forever.
“Economics is a quasi-religious liberal art full of people’s opinions and prejudices and biases. … All the economists before Satoshi were trying to work out the laws of economics with seashells and glass beads and pieces of paper and credit instruments,” noted Mr.Saylor.
Thus his optimism about future acceptance of bitcoins within Chinese borders stems from his conviction that inherent characteristics possessed by this digital currency will win over skeptics or regulators alike.
Eventually leading to a situation where one coin could be worth 10 million dollars if not more due to massive adoption globally triggered by realization among many individuals worldwide but mainly concentrated around Asia Pacific region.
This includes Japan South Korea Australia New Zealand Singapore Thailand Malaysia Indonesia Philippines Vietnam Taiwan Hong Kong Macau Mongolia Myanmar Laos Cambodia Brunei Timor-Leste India Bangladesh Pakistan Sri Lanka Nepal Maldives Bhutan etcetera.
Achieving “Corporate Immortality” With Bitcoin
On top of individual implications there lies an idea behind Saylor’s mind: corporate immortality through bitcoin investment; According to him businesses must buy some coins immediately because otherwise they might die within decades while the average life expectancy for companies is only about ten years.
“We’re talking about eliminating corporate mortality, we’re talking about stretching economic vitality easily by a factor of 10, maybe by a factor of a hundred, maybe by a factor of a million,” he said.
Therefore if firms want to secure their financial futures and achieve unprecedented longevities then what they need is to embrace the use of cryptocurrencies such as bitcoins which can fundamentally change how organizations operate in terms of withstanding economic shocks while ensuring continuous growth even during periods marked by low demand levels or high unemployment rates among others.
Michael Saylor’s audacious future predictions concerning Bitcoin serve as an indication of his unswerving faith in the potential that lies within this particular digital asset class. By presenting it like perfect money plus prophesying its adoption not only in restrictive environments like China but anywhere else where people would be using different forms for transactional purposes, he paints a picture where not just 10 million dollars per coin will have been reached but also economic paradigms shall have been redefined globally courtesy btc.
