Michael Saylor Forecasts Explosive Growth for Bitcoin Demand by 2024
Michael Saylor, co-founder of MicroStrategy and a prominent Bitcoin advocate, delivered a compelling forecast at the 2023 Australia Crypto Convention on 10 November 2023. With the upcoming Bitcoin halving, Saylor predicts a potential tenfold increase in demand by the close of 2024.
Reflecting on Bitcoin’s evolution from an “offshore unregulated asset” to an “institutionalised mainstream app” between 2020 and 2024, Saylor anticipates Bitcoin becoming an “adolescent mainstream asset” by 2024. He highlighted key dynamics in supply and demand, stating, “Demand should double or triple or maybe go up by a factor of 10… and the supply available for sale will be cut in half in April.”
Describing the next 12 months as Bitcoin’s “coming out party,” Saylor envisions sustained high-growth between 2024 and 2028, driven by major players in the tech industry and global banks. He predicts fierce competition, noting, “You’re going to have ferocious competition… and other tech companies getting involved.”
Looking further ahead, Saylor made audacious predictions for Bitcoin’s future, envisioning it outpacing traditional assets: “When it hits that terminal growth rate, maybe 20 years out… that coin is going to progress to a million dollars a coin, $2 million a coin, $5 million a coin, $10 million a coin.”
As of November 2, MicroStrategy holds approximately 158,400 BTC, reporting a substantial increase of around $900 million on its Bitcoin investment.
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