Michael Saylor Predicts $280T Bitcoin Market Cap at Nashville Conference

Michael Saylor Predicts $280 Trillion Bitcoin Market Cap at Nashville Conference

Michael Saylor, MicroStrategy’s chief executive officer, delivered an optimistic keynote speech at the Bitcoin 2024 conference in Nashville on Friday. Saylor predicted that Bitcoin’s market value could rise to $280 trillion by 2045, a staggering increase from its current valuation of just over $1 trillion.

In his speech, Saylor defended Bitcoin as a superior store of value, highlighting the inefficiency of traditional assets and systems in the global economy. He described Bitcoin as the “little orange asset that could make it” and emphasized its potential longevity compared to other assets. He noted that government-backed debt and luxury goods like Ferraris have limited lifespans, but he believes Bitcoin could last significantly longer.

Saylor argued that physical assets are subject to entropy and their value is eroded by factors such as war, famine, and disaster. In contrast, he suggested that Bitcoin, especially when self-storage or managed by AI, could have a useful lifespan of thousands of years. This perspective underscores Saylor’s strategic shift to Bitcoin four years ago.

MicroStrategy’s aggressive buying of Bitcoin began after the pandemic-induced market crash in 2020. The company has steadily increased its Bitcoin holdings, recently adding around 12,000 Bitcoin in June when the price was around $65,000. This purchase was MicroStrategy’s 39th purchase since its first Bitcoin purchase in August 2020 at around $12,000 per coin.