Michael Saylor, the executive chairman and co-founder of MicroStrategy, has predicted that Bitcoin will reach $10 million per coin.
Saylor made this prediction during a podcast with Robin Seyr, further claiming that China will become a strong supporter of the cryptocurrency.
Chinese Adoption and Economics
Saylor, who is known for being among the most vocal BTC supporters, claimed in the interview, “The cost of Bitcoin’s going to go up to ten million dollars a coin.”
Saylor’s argument is based on the concept of “perfect money.” He stated that Bitcoin, with its decentralized nature and finite supply, represents a form of “perfect money” that could revolutionize the global financial system. He contrasted Bitcoin with traditional forms of money, which he deemed “imperfect,” arguing that the cryptocurrency represents some form of economic immortality.
#Bitcoin is Economic Immortality.pic.twitter.com/ZtLzUK4kO6
— Michael Saylor
(@saylor) June 23, 2024
Saylor illustrated this by asking, “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.”
In Saylor’s view, Bitcoin’s introduction has made all previous economic systems obsolete. He criticized traditional economics as “pseudoscience before Satoshi,” referring to Bitcoin’s mysterious creator, Satoshi Nakamoto. According to Saylor, economists of the past were similar to primitives using “seashells and glass beads” compared to the sophisticated financial instrument that Bitcoin represents.
“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.
Another notable aspect of Saylor’s interview was his prediction regarding China’s stance on Bitcoin. Despite the Chinese government’s current strict regulations on cryptocurrency, Saylor confidently stated his belief that both the local people and their authorities will adopt Bitcoin and predicted that, at some point in the future, the value of a single BTC will reach $10 million.
Corporate Immortality
Saylor also presented a vision of Bitcoin as a means to achieve “corporate immortality.” He claimed that companies investing in the cryptocurrency could significantly extend their lifespans, outlasting those that follow traditional financial practices.
“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.”
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