U.Today – In a recent tweet, Michael Saylor, co-founder and chairman of MicroStrategy, issued a bold price prediction for (BTC). Saylor wrote that “$13 million is the base case for Bitcoin.”
Saylor posted a chart alongside his tweet showing the Bitcoin price forecast for the next 21 years. The chart compares the Bitcoin price in 2024 and the estimates for 2045.
With a current estimated price of $65,000 and a market cap of $1.3 trillion, the base-case price for Bitcoin was predicted to be $13 million in 2045 with a bearish case of $3 million and $49 million in a bullish case.
In a bearish scenario, Bitcoin's market cap is expected to reach $68 trillion; $280 trillion in a base case; and $1.03 trillion in a bullish case.
At the recent Bitcoin conference, Saylor surprised the crypto community by providing interesting data to support his prediction that Bitcoin’s qualities as a digital asset can see BTC surpass $13 million per coin by 2045 as adoption develops.
Saylor, a firm believer in Bitcoin, began buying it in 2020 as an inflation hedge and cash alternative.
Saylor's company, MicroStrategy, is one of the largest public holders of Bitcoin in the world. As of June 20, it held a total of 226,331 BTC purchased for around $8.33 billion at an average price of $36,798.
BTC Predictions
Last week, asset manager VanEck, a Bitcoin spot and ETF issuer, shocked the crypto community with its surprising Bitcoin price prediction.
VanEck predicted that the price of BTC could reach $2.9 million by 2050 if some major hurdles are overcome. The asset manager also predicted that Bitcoin could settle 10% of international trade and 5% of domestic trade profits by 2050, and that central banks would hold it as a reserve asset.
Meanwhile, short-term sentiment remains optimistic, albeit cautious. According to Santiment, the recent Bitcoin price rally has pushed traders' sentiment to levels not seen in 16 months. “Bitcoin's +20% price rally in 3 weeks has left traders feeling much more optimistic than they did at the beginning of the month,” Santiment wrote.
Bitcoin fell 0.83% over the past 24 hours to $67,489 at press time, according to data from CoinMarketCap.
This article was originally published on U.Today
