- Michael Saylor considers Bitcoin a more global open capital market.
- The MicroStrategy Chief predicts $13M BTC price in 21 years.
- Macroeconomic factors reflect bullish Bitcoin signals.
MicroStrategy co-founder Michael Saylor maintains his bullish stance on Bitcoin, describing it as the “ most liquid, fungible, free capital market. ” Saylor believes Bitcoin is an attractive asset for both long-term investors and those looking to capitalize on short-term market fluctuations.
To support his optimism, Saylor highlights that Bitcoin currently represents 1% of global capital and has the potential to reach 7%. Based on Bitcoin’s historical 44% annual growth rate, which he expects to gradually decrease over time, Saylor predicts a $13 million Bitcoin price in 21 years.
A crypto podcast host emphasized the long-term nature of Saylor’s prediction, acknowledging the negative sentiment that can arise from frequent price swings. He encourages Bitcoin holders to consider the broader picture painted by Saylor’s analysis.
Bitcoin’s Liquidity Advantage
Although Bitcoin supporters and many analysts compare BTC to gold, some critics believe the cryptocurrency’s volatile nature does not align with the comparison. Many critics believe Bitcoin doesn’t act like digital gold during a missile strike. Hence, they think it is not a stable digital asset.
Addressing the criticism, Saylor stresses its liquidity. He points out that Bitcoin’s fungibility allows for quick sales in response to market changes, an advantage over gold that creates arbitrage opportunities for short-term traders.
Read also: Michael Saylor: Bitcoin’s Dip is an Opportunity, Not a Setback
The podcast host also notes that recent US inflation data could boost Bitcoin trader optimism, as expectations rise for a Federal Reserve interest rate cut in September. Analysts believe this could lead to increased risk appetite among investors, benefiting Bitcoin.
Bitcoin surged 1.7% in the early hours of today, after recovering from 4.25% after yesterday’s CPI data release, according to TradingView’s data . This recovery launched the leading cryptocurrency above a significant 0.382 Fibonacci support level, with a price action that looks set for higher levels amid growing market optimism.
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