- According to Michael Saylor, BTC could reach $10 million per coin.
- The power law supports his prediction, but the model has its assumptions and limitations.
Bitcoin [BTC] further dumped to $62K, down 13% from the June high of $71.9K. Despite the decline, MicroStrategy founder and CEO Michael Saylor has maintained his ultra-bullish stance on the largest digital asset, at least in the long term.
In a recent interview, Saylor predicted a price target of $10 million per BTC, calling it “economic immortality.” He added,
‘What is the difference between perfect money and imperfect money? Perfect money is economic immortality. Imperfect money has a short brutal life’
Saylor linked traditional currencies to imperfect money. He noted that once a crisis hits, whether it concerns families, businesses, corporations or national institutions, people become more open to Bitcoin.
Michael Saylor Goal: Is $10 Million Per BTC Achievable?
Source: Bitbo
Bitcoin’s price projection, based on the Power Law, supported Michael Saylor’s bold projection of $10 million per BTC, tentatively by 2040.
Power Law provides future projections based on past growth and historical trends, recorded on a logarithmic scale. Based on the model and chart above, Bitbo noted,
“After 2028, the price will never drop below $100,000. The price will reach $1,000,000 per bitcoin by 2028 at the earliest and 2037 at the latest. After 2037, the price will never drop below $1,000,000 again.”
However, the projection should not be followed blindly as it does not take into account progress, regulatory changes or other factors that could impact BTC.
But it’s not the first time Saylor has made the bold BTC projection. In December 2023, Saylor declared that BTC market cap could reach 10%-20% of total world wealth ($900-$1000 trillion).
If so, BTC could reach $10 million per coin if it captured 20% of global assets, according to Saylor. At the time of writing, the total market value of BTC was $1.2 trillion per CoinMarketCap, which translates to less than 1% of total world wealth.