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Michael Saylor Predicts Bitcoin Market Cap of $280 Trillion at Nashville Conference

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Michael Saylor Predicts Bitcoin Market Cap of $280 Trillion at Nashville Conference

Michael Saylor, executive chairman of MicroStrategy, delivered an upbeat keynote address Friday at the Bitcoin 2024 conference in Nashville. Saylor predicted that Bitcoin’s market cap could rise to $280 trillion by 2045, a staggering increase from its current valuation of just over $1 trillion.

In his speech, Saylor highlighted the inefficiencies of traditional resources and systems in the global economy, championing Bitcoin as a superior store of value. He described Bitcoin as the “little orange asset that could,” highlighting its potential longevity compared to other assets. He noted that government-backed debt and luxury items like Ferraris have limited lifespans, while he believes Bitcoin can last significantly longer.

Saylor argued that physical assets are subject to entropy, with their value eroded by factors such as war, famine, and catastrophe. In contrast, he suggested that Bitcoin, particularly when self-custodied or managed by artificial intelligence, could have a useful lifespan spanning thousands of years. This perspective underscores Saylor’s strategic shift to Bitcoin four years ago.

MicroStrategy’s aggressive Bitcoin acquisition began following the pandemic-induced market crash in 2020. The company has steadily increased its Bitcoin holdings, most recently adding about 12,000 Bitcoin in June when the price was around $65,000. This purchase marked MicroStrategy’s 39th acquisition since its initial Bitcoin purchase in August 2020 at around $12,000 per coin.

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