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If Michael Saylor’s prediction of $13 million for Bitcoin in 2045 comes true, BTC’s market cap would be greater than the combined GDP of the top 10 countries, but how likely is that? – MicroStrategy (NASDAQ:MSTR)
Michael SaylorOne of the biggest Bitcoin BTC/USD bulls have come up with another ultra-bullish forecast for the world’s largest cryptocurrency.
What happened: At the recent Bitcoin 2024 conference, the co-founder of the company “Bitcoin Development”, MicroStrategy Inc. MSTR has predicted that King Crypto will reach a staggering $13 million per coin in 2045, according to its base case scenario.
He added that at this level the digital currency could boast a market capitalization of $280 trillion, equivalent to nearly 7% of global wealth.
While this figure may seem impressive in isolation, it is unprecedented when compared to the projected national GDPs of large countries.
According to Statista, China, India and the United States will be the three largest economies in the world. 2050with a combined GDP of $136 trillion, or half of Bitcoin’s projected market cap in 2045. This suggests that total GDP will be lower than the $136 trillion projection in 2045.
Note that market capitalization and GDP are two very different concepts: the former refers to the price of financial assets, while the latter focuses on real incomes.
That said, it is not uncommon to use GDP as a useful variable for comparison purposes in this context.
Because matter: Saylor’s bullish stance on King Crypto dictated MicroStrategy’s corporate Bitcoin reserve strategy.
At the time of writing, MicroStrategy is the world’s largest corporate shareholder of Bitcoin, with stakes worth over $15 billion. second on bitcointreasuries.net.
Meanwhile, the former president by Donald Trump Bitcoin’s endorsement at a recent event has raised expectations in the cryptocurrency community. Trump promised to create a national Bitcoin reserve for the United States and pledged to end the current administration’s “crackdown” on the industry.
Price Action:At the time of writing, Bitcoin was trading at $69,511.63, up 3.13% over the past 24 hours, according to data from Benzinga Pro.
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Photo courtesy: MicroStrategy
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