Bitcoin Market cap will touch $280 trillion: Michael Saylor
- Michael Saylor said Bitcoin today is competing with the world’s equity capital.
- He added that Bitcoin represents the digital transformation of hundreds of thousands of trillions of dollars of capital of the world.
- Saylor promised to destroy his Bitcoin keys after his death.
MicroStrategy Inc. Executive Chairman Michael Saylor, one of the biggest Bitcoin advocates, predicts that leading crypto’s market cap will touch $280 trillion by 205. Currently, Bitcoin boasts a market cap of $ $2.03 trillion as of 5 May 2024. Saylor’s comments come on the back of Bitcoin surpassing the $100,000 mark on Wednesday.
In a TV interview with Fox Business, Saylor said, “Bitcoin represents the digital transformation of hundreds of thousands of trillions of dollars of capital of the world.
“But today, the wealth in the world is growing not just because of technology and innovation, but also because of inflation, and people are looking to sell their real estate to buy Bitcoin. So, as people migrate their physical asset to global monetary asset, that asset is going to grow faster than gold.”
Bitcoin over the past year or so, has gained over 140% in the past year, reflecting its robust growth trajectory. Adding further, Saylor said that once you master Bitcoin, you can ensure economic prosperity.
“Bitcoin today is competing with the world’s equity capital – both physical and fiat,” he said. Earlier this week, MicroStrategy (MSTR) bought another $1.5 billion worth of Bitcoin (BTCUSD). With this latest purchase of 15,400 Bitcoins, MicroStrategy now holds 402,100 total, which is just under 2% of the 21 million total supply that will ever exist.
Michael Saylor aims to destroy his Bitcoin keys
Saylor further went on to suggest that he would be destroying his Bitcoin keys following his death. Describing it as a “pro-rata contribution to everyone in the world who owns Bitcoin”, he said it is a power asset that will change the world.
Over the years, Michael Saylor has remained a big pro-Bitcoin executive, with his firm adopting Bitcoin into its balance sheet. As adoption soared, this strategy bolstered market sentiment, leading to more companies following a similar strategy.
Even from the equity market, following Bitcoin’s historic day, MicroStrategy Inc. (MSTR) shares jumped 8.72% in pre-market trading on Thursday, continuing the software company’s stellar performance in 2024.
