Bitcoin Price Predictions

In a recent tweet, Michael Saylor, co-founder and chairman of MicroStrategy, made a bold prediction for Bitcoin (BTC), stating that “$13 million is the Bitcoin Base Case.”

Saylor included a graphic depicting Bitcoin’s 21-year price forecast, comparing Bitcoin’s price in 2024 with estimates for 2045. With the current estimated price of $65,000 and a market capitalization of $1.3 trillion, Saylor predicts a base case scenario price of $13 million in 2045, with a bear case of $3 million and a bull case of $49 million.

Under the predicted scenarios, Bitcoin’s market capitalization could reach as high as:
– Bear case: $68 trillion
– Base case: $280 trillion
– Bull case: $1,030 trillion

At a recent Bitcoin conference, Saylor impressed the crypto community with data supporting his prediction that Bitcoin’s characteristics as digital capital could allow BTC to exceed $13 million per coin by 2045 as adoption increases. Saylor has been a strong advocate for Bitcoin, starting his purchases in 2020 as a hedge against inflation and alternative cash.

MicroStrategy, under Saylor’s leadership, is one of the largest public holders of Bitcoin, owning 226,331 BTC, valued at approximately $8.33 billion, purchased at an average price of $36,798.

BTC Predictions from VanEck

Recently, asset manager VanEck made headlines with their own ambitious Bitcoin price prediction, forecasting BTC could reach $2.9 million by 2050 if significant hurdles are overcome. They anticipate Bitcoin could account for 10% of international trade and 5% of domestic trade gains by then, with central banks potentially retaining it as a reserve asset.

Currently, short-term sentiment remains optimistic yet cautious. According to Santiment, Bitcoin’s recent price rebound has significantly boosted traders’ sentiment to levels not seen in 16 months. Santiment noted, “Bitcoin’s +20% 3-week price rally has left traders feeling a whole lot more bullish than they were at the beginning of the month.”

At press time, Bitcoin was down 0.83% in the last 24 hours, priced at $67,489, as reported by CoinMarketCap.

This article was originally published on U.Today