Connect with us

Hi, what are you looking for?

ELEVENEWS

Bitcoin

Michael Saylor Explains How Bitcoin Could Surge 80x and Beyond

Michael Saylor, the chief executive of the world’s largest publicly traded business intelligence firm, is revealing how Bitcoin could meteorically rise by 100x from its current valuation.

On a fireside chat with Binance founder Changpeng Zhao, the MicroStrategy head says Bitcoin needs to transform its old narrative of being a volatile, speculative asset suitable for investing 1% or 2% of one’s capital into being the ultimate safe-haven and store-of-value asset.

“The speculative narrative was predominant before March, but that’s not going to appeal to 99% of the investors or the money in the world. They want something different. They want, ‘Bitcoin is the ultimate synthetic, long-term treasury reserve asset. It’s an engineered safe-haven asset engineered to be superior to gold in all aspects of bearer instruments that’s a store of value.’ And if I go from one to the other, then I’m not talking about getting 1% of the money from 1% of the investors. I’m talking about getting 50% of the money from 100% of the investors.”

Should this change in narrative happen, the outspoken Bitcoin bull notes a couple of markets that could start pouring their money into Bitcoin and drastically raise the price and market cap of the leading cryptocurrency.

“The people that we want to appeal to are the people that put their money in gold because they don’t trust fiat instruments so that’s $10 trillion there… That gets you a factor of 20-50x there.

The second bucket is people with bonds; $17 trillion in negative-yielding debt. $100 trillion of zero to three percent yielding debt. Why are you putting money in bonds and sovereign wealth? It’s a safe haven.



So people’s reaction is, the market gets scary they run to a safe haven. I think it’s pretty important in the crypto industry and with regard to Bitcoin, you position Bitcoin as the ultimate long-duration, safe-haven asset, so they run to it instead of running to sovereign debt. That gets you again another factor of 10, 20, 30x.

And then finally you’ve got a pool of big tech investors. You could argue a lot of people are using big tech like Tesla, Apple, Amazon as a store of value. They’ve lost faith in the currency. They know they can’t invest in negative-yielding bonds. They’re not quite sure about gold.”

Saylor believes gold is simply out of date and not a big competitor to Bitcoin.

“Gold is defective. It’s an antiquated store of value. It was the best store of value for 5,000 years until we invented the computer… It was a good idea until it became not a good idea.”

Advertisement
Advertisement

Copyright © ELEVENEWS