Michael Saylor, a prominent advocate for Bitcoin (BTC), has recently made a bold prediction of $8 million per coin based on the long-term value of the digital currency. Despite recent declines in Bitcoin’s performance, Saylor remains optimistic about its future, believing it has the potential to revolutionize the traditional monetary system.
In a recent speech at the BTC Prague event, Saylor shared his journey from being a skeptic of Bitcoin when it was priced at $892 to eventually understanding its inner workings and technology, leading him to purchase it at $9,500. Reflecting on this experience, Saylor emphasized the quote, “Everyone gets Bitcoin at the price they deserve,” suggesting that Bitcoin’s value will continue to rise despite doubts from some investors.
Saylor also discussed the future price of Bitcoin, suggesting that at $950,000, some investors may wait for prices to drop to $700,000 before buying, but ultimately, he predicts that Bitcoin could reach $8,000,000 or even higher. He highlighted key catalysts such as political and economic instability, referencing historical events like WW2 and Communism, where Bitcoin could be a safer investment compared to traditional assets.
Furthermore, Saylor emphasized that Bitcoin is a truly owned asset, unlike assets in the ancient world that were governed by authorities. He described Bitcoin as a ticket to escape the manipulated economic reality, offering a way to break free from the constraints of traditional economic data points.
Currently, Bitcoin is trading at $66,610, showing signs of recovery from a monthly low of $65,000. Despite facing resistance in the $65,000 to $72,000 range, Saylor’s predictions suggest that current prices present a unique opportunity for investors to capitalize on the future potential of Bitcoin. If you are interested in learning more about Bitcoin, check out our Buy Bitcoin Guide, Bitcoin Wallet Tutorial, and 24-hour Bitcoin Price updates.