- Michael Saylor, Co-founder and Executive Chairman of MicroStrategy, has projected a future wherein Bitcoin reaches a staggering $10 million per coin.
- During his podcast with Robin Seyr, Saylor also predicted that China would eventually support and adopt Bitcoin.
- He views Bitcoin as “perfect money” due to its decentralized nature and finite supply, contrasting it with traditional money.
Michael Saylor foresees Bitcoin transforming the global financial system, predicting each coin could be worth $10 million in the future.
Chinese Adoption and Economics
One of the most outspoken proponents of Bitcoin, Michael Saylor, stated in an interview, “The cost of Bitcoin’s going to go up to ten million dollars a coin.” His prediction hinges on Bitcoin’s fundamental attributes as “perfect money.”
Saylor explains that Bitcoin, unlike traditional currencies, derives its value from being decentralized and having a capped supply. He posits that these qualities could significantly disrupt and reshape the global economic framework. “Bitcoin offers economic immortality, contrasting with the fleeting nature of imperfect money systems,” Saylor elaborated.
#Bitcoin is Economic Immortality. pic.twitter.com/ZtLzUK4kO6
— Michael Saylor⚡️ (@saylor) June 23, 2024
To illustrate his point, Saylor asked, “What’s the difference between perfect money and imperfect money? Perfect money is economic immortality. Imperfect money is: we all have a short, brutal life.”
He even went further to say that traditional economic practices are now obsolete due to Bitcoin’s existence. Saylor drew a stark comparison between the past and the present, describing earlier economies as akin to “primitives using seashells and glass beads.”
“Economics is a quasi-religious liberal art full of people’s opinions and prejudices and biases. … All the economists before Satoshi were trying to work out the laws of economics with seashells and glass beads and pieces of paper and credit instruments,” Saylor claimed.
In addition to his economic predictions, Saylor also discussed China’s potential future stance on Bitcoin. Despite the country’s stringent current regulations, he prophesied that both the populace and government would eventually embrace Bitcoin, leading to its valuation reaching up to $10 million per coin.
Corporate Immortality
Saylor extended his vision of Bitcoin’s influence to the corporate world, suggesting that investing in Bitcoin could potentially lead to “corporate immortality.” According to him, companies that adopt Bitcoin could significantly outlast their peers reliant on traditional financial systems.
“The average life expectancy of a corporation is something like 10 years,” Saylor noted. “We’re talking about eliminating corporate mortality, we’re talking about stretching economic vitality easily by a factor of 10, maybe by a factor of a hundred, maybe by a factor of a million.”
Conclusion
Michael Saylor’s foresight positions Bitcoin as a revolutionary financial instrument capable of unprecedented economic longevity both for individuals and corporations. His bold predictions about Bitcoin’s valuation and the future adoption by major economies like China underscore a transformative potential that challenges the conventional understanding of money and economics. For now, only time will tell if Saylor’s prophecy will come to fruition, but it continues to fuel intriguing discussions in the financial world.
