Michael Saylor Predicts Bitcoin Market Cap Could Reach $200 Trillion
In a CNBC interview, Michael Saylor, co-founder of Strategy, maintained his bullish stance on Bitcoin, predicting its market cap could reach $200 trillion. He estimates this would equate to a price of approximately $10 million per Bitcoin, based on its capped supply of 21 million coins.
Key Points from Saylor's Predictions
- Current Bitcoin market cap is around $2 trillion.
- Saylor expects a global capital shift contributing to Bitcoin's growth.
- President Trump announced plans for a Crypto Strategic Reserve, including Bitcoin and other cryptocurrencies like Ethereum.
- Saylor supports a multi-cryptocurrency reserve strategy over a Bitcoin-only approach.
- He has engaged with lawmakers about cryptocurrency policy.
- Saylor argues that a strategic Bitcoin reserve could help reduce the national debt.
- Concerns about Bitcoin's volatility are dismissed; he cites historical long-term gains.
- The proposal for a US Crypto Reserve is in early stages and requires legislative support.
As of now, Bitcoin has found support at approximately $83,869 after experiencing losses of 7% over the past 24 hours and 6% over the past week.