U.Today – U.Today's potential to reach astronomical valuations has been a topic of discussion among cryptocurrency enthusiasts. One of the most notable predictions comes from Michael Saylor, president of MicroStrategy, who has been a strong supporter of Bitcoin. According to Bitcoin analyst Luke Broyles, Saylor's recent speech at the Prague BTC event offered some insightful insights into his long-term vision for Bitcoin.
In his speech, Saylor reflected on his journey with Bitcoin, admitting that he initially dismissed the digital asset when it was priced at just $892. This skepticism led him to later purchase Bitcoin at a much higher price of $9,500.
One of the standout quotes from Saylor's speech, highlighted by Luke Broyles, was: “Everyone gets Bitcoin at the price they deserve.”
Saylor made a bold prediction: When Bitcoin hits $950,000, many will still wait for it to drop to $700,000 before buying. However, he hinted that such hesitation could result in missing out once again, as Bitcoin could skyrocket to $8,000,000. This prediction highlights Saylor's belief in Bitcoin's long-term value proposition and its potential to appreciate significantly over time.
The idea of Bitcoin reaching $8 million may seem far-fetched to some, but it aligns with Saylor's broader perspective on the asset. He views Bitcoin as a superior store of value and inflation hedge, with the potential to attract significant capital from traditional assets.
This vision has placed MicroStrategy at the forefront of Bitcoin's evolution, and it now owns 1.1% of the total supply of the world's largest cryptocurrency, valued at around $14.5 billion, in just four years.
The corporation recently announced a debt sale of $500 million in convertible notes to increase its Bitcoin holdings. MicroStrategy's long-term convertible debt strategy ensures that you have enough time to benefit from a potential Bitcoin upside while minimizing the cryptocurrency's liquidation risk on your balance sheet.
At the time of writing, Bitcoin was down 1.07% in the last 24 hours to $66,982.
This article was originally published on U.Today.
