The CEO of Nasdaq-listed business intelligence firm MicroStrategy, Michael Saylor, has revealed he believes the price of bitcoin could surge to $5 million per coin in the future and he sees it as a \u201cscreaming buy.\u201d<\/p>\n
Saylor\u2019s words came during an interview with FamilyOffice, first spotted by Daily Hodl, where Saylor said the cryptocurrency could see its price move up to $5 million per BTC. Saylor\u2019s price prediction surpasses even the most bullish ones, including Kraken CEO\u2019s $1 million price prediction.<\/p>\n
During the interview, the CEO of MicroStrategy said:<\/p>\n
I can see bitcoin going to a million. I can see it going to $5 million\u2026 because if it simply replaces all the indexes as a monetary index money, why shouldn\u2019t it go to $100 trillion in market cap or something?<\/p>\n
To Saylor, bitcoin is still showing investors a \u201cscreaming signal\u201d that it should be bought, as it has a \u201c$200 to $300 trillion addressable market,\u201d and a clear problem it\u2019s fixing: fiat money is not sound, while BTC is \u201cengineered thermodynamically sound money.\u201d<\/p>\n
Moreover, the Bitcoin network is the dominant one in the cryptocurrency space which means \u201ceverybody decided it\u2019s the network,\u201d and as such its price has been exploding over the last few years. Saylor detailed the buy signal is that it\u2019s \u201cgrowing 200% a year every year for 12 years running. That\u2019s the signal.\u201d<\/p>\n
He then predicted the cryptocurrency will keep on outperforming FAANG stocks \u2013 those of Facebook, Amazon, Apple, Netflix and Google \u2013 as he doesn\u2019t even see the tech giants grow by a factor of 10 from their current point, even though he contends they \u201cmaybe\u201d will triple in value over time.<\/p>\n
Bitcoin\u2019s potential, Saylor added, became clear when quantitative easing and other economic stimulus and relief measures increased the supply of circulating fiat currency. He said:<\/p>\n
[Bitcoin] got to be a much easier trade in March of 2020. \u00a0And every month since March of 2020, it\u2019s been de-risked exponentially, and then the need is exploding.<\/p>\n
The price of bitcoin moved from little over $11,000 in October of last year to a new all-time high near $62,000 earlier this month, before enduring a correction that saw its price dip to $52,000 at press time, according to CryptoCompare data.<\/p>\n
MicroStrategy has been buying bitcoin throughout the cryptocurrency\u2019s bull run, at one point issuing debt to buy more. The firm invested $2.21 billion in BTC to now hold 91,326 coins. These are worth over $4.76 billion.<\/p>\n