The CEO of MicroStrategy forecasts the bitcoin market value to rise to $100 trillion. Currently the capitalization of the first cryptocurrency is just few steps away from $1 trillion.
MicroStrategy CEO Michael Sailor believes that bitcoin will continue to rise in value and will become a “stabilizing influence” for the entire global financial system in the future. Talking to CNBC, Sailor suggested that the market value of bitcoin in the future will be $100 trillion.
Sailor’s bold prediction was made as the bitcoin price demonstrated fall by more than 10% below $50,000. As a result of a powerful correction, the market value of the world’s largest cryptocurrency again dropped below $1 trillion, holding above this mark for only a few days. Since the beginning of the year, bitcoin rose in price by 60%, and over the last 12 months, it added in price more than 360%.
“There’s a $500 trillion monetary planet and the outer layer is currency, then you’ve got stocks, bonds, real estate. There’s $10 trillion worth of gold in there, $1 trillion of bitcoin in there. Bitcoin is going to flip gold, and it’s going to subsume the entire gold market cap,” said Sailor, who became one of the most famous Bitcoin enthusiasts after MicroStrategy announced its bitcoin investment plans in August 2020.
“Then it’s going to subsume negative-yielding sovereign debt and other monetary indexes until it grows to $100 trillion. Once it gets to $10 trillion, its volatility will be dramatically less. As it marches toward $100 trillion, you’re going to see the growth rates fall, the volatility fall, and it’s going to be a stabilizing influence in the entire financial system of the 21st century.”
Sailor admitted that he has investments in bitcoins as an individual.
He added that he predicts an increase in demand for bitcoins in the coming years, not only from organizations, but also retail investors around the world, which will also lead to an increase in the value of the cryptocurrency.
“I think that you can expect that we’ll have a billion people storing their value, in essence, a savings account, on a mobile device within five years and they’re going to want to use something like bitcoin,” he contended, describing it as “the dominant digital monetary network.”