Michael Saylor Predicts Bitcoin Will Exceed $100,000
MicroStrategy Executive Chairman Michael Saylor predicts Bitcoin will surpass $100,000 and grow annually for two decades while criticizing index rules and previous legislative restrictions.
Executive Chairman of MicroStrategy Inc. Michael Saylor predicts Bitcoin will exceed $100,000 and maintain an annual growth rate of 20% to 30% over the next twenty years. He characterized the cryptocurrency as digital capital and described MicroStrategy as a structured finance company that utilizes Bitcoin to develop high-performance digital credit products.
Saylor defended MicroStrategy's decision to sell small amounts of Bitcoin in June, stating the move was intended to inoculate the market and demonstrate the company's ability to trade assets in the interest of shareholders. He also criticized MSCI for considering rules that could exclude MicroStrategy from global equity indices, arguing the provider is making a value judgment by failing to recognize Bitcoin as capital.
Regarding the regulatory environment, Saylor claimed the Senate's failure to advance the Clarity Act was beneficial for the industry. He argued that the act contained 600 pages of restrictions and that its stalling allowed for more progressive guidance from the U.S. Treasury Department, the Securities and Exchange Commission, and the Commodity Futures Trading Commission.
