Michael Saylor, a prominent Bitcoin BTC/USD whale, recently disclosed owning nearly $1 billion in the leading cryptocurrency, and made his intentions clear to acquire more in the future.
What Happened: The co-founder of software development firm MicroStrategy Inc. MSTR said that he hasn't sold any of his coins since publicly disclosing his ownership of 17,732 BTC four years ago.
Given Saylor's ultra-bullish position on King Crypto, this revelation was hardly surprising, though it reaffirmed his conviction in the asset.
As of this writing, Bitcoin was valued at 57,135.88. This meant that to become a millionaire today, an investor should be holding around 17.49 BTCs in their portfolio.
Why It Matters: In recent years, the world’s largest cryptocurrency has significantly outperformed traditional assets, including stocks and gold. According to casebitcoin.com, BTC has grown 400% in the last five years, outpacing the S&P 500’s 78% increase and gold’s 58% rise.
Such a growth trajectory has attracted many investors from traditional finance, with Saylor arguably being the most prominent of them all.
At the recent Bitcoin 2024 conference, Saylor projected a $13 million price per coin for the apex cryptocurrency in 2024, according to a base case scenario.
This meant that if you're too optimistic and have confidence in Saylor's prognosis to the tee, owning just about 0.076 BTC today would make you a millionaire 21 years from now. Moreover, owning 76.92 BTC would make you a billionaire in as many years.
At the time of writing, MicroStrategy is the world’s largest corporate owner of Bitcoin, with holdings worth nearly $13 billion, according to bitcointreasuries.net.
Image via MicroStrategy/Flickr
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