U.Today – In a recent tweet, Michael Saylor, co-founder and CEO of MicroStrategy, made a bold price prediction for (BTC). Saylor wrote that “$13 million is the base case for bitcoin.”
Saylor included a graphic alongside his tweet showing a 21-year Bitcoin price forecast. The graphic compares the price of Bitcoin in 2024 and the estimates for 2045.
With an estimated current price of $65,000 and a market capitalization of $1.3 trillion, the base case scenario predicts Bitcoin’s price in 2045 to be $13 million, with a bear case scenario predicting $3 million and a bull case predicting $49 million.
In the bear scenario, bitcoin’s market capitalization is expected to reach $68 trillion; $280 trillion in the base case; and $1,030 trillion in the bull case.
At a recent Bitcoin conference, Saylor delighted the cryptocurrency community by presenting engaging data supporting his prediction that Bitcoin’s characteristics as a digital asset could see BTC’s value exceed $13 million per coin by 2045 as adoption grows.
Saylor, who is an avid Bitcoin supporter, began buying it in 2020 as a hedge against inflation and an alternative to cash.
Saylor’s company, MicroStrategy, is one of the largest public Bitcoin holders in the world. As of June 20, it held a total of 226,331 BTC purchased for about $8.33 billion at an average price of $36,798.
BTC Forecasts
Last week, asset manager VanEck, an issuer of spot bitcoin and ETFs, delighted the cryptocurrency community with its astonishing bitcoin price prediction.
VanEck predicted that BTC could hit $2.9 million by 2050 if certain significant hurdles are overcome. The asset manager also predicted that Bitcoin could account for 10% of international trade profits and 5% of domestic trade profits by 2050, with central banks holding it as a reserve asset.
Meanwhile, short-term sentiment remains bullish, if cautious. According to Santiment, the recent rebound in Bitcoin prices has changed traders’ sentiment to levels not seen in 16 months. “Bitcoin’s three-week price rally of +20% has traders feeling much more bullish than they were at the beginning of the month,” Santiment wrote.
Bitcoin’s value has fallen by 0.83% in the past 24 hours, reaching $67,489 at the time of going to press, according to CoinMarketCap data.
