Bitcoin Is 'Global Capital', Says Michael Saylor: 'Every Nation That Respects Property Rights Is Going To Support BTC'

Once questioned for its legitimacy, Bitcoin BTC/USD has now grown to be the world's tenth-largest currency by market cap, with Michael Saylor calling it "global capital."

What Happened: In a Fox Business interview on Wednesday, MicroStrategy MSTR executive chairman Michael Saylor elaborated on the company's Bitcoin strategy and his bold prediction that Bitcoin could reach $13 million per coin by 2045.

Saylor emphasized the transformational potential of Bitcoin in how wealth is stored and transferred globally.

"What happens when your long-term store of value shifts from physical assets like buildings or stock portfolios to a digital asset like Bitcoin?" Saylor asked, adding, "Bitcoin represents the digital transformation of hundreds of trillions of dollars of capital worldwide."

He explained his $13 million forecast, citing an assumed average annual growth rate of 29% over the next 21 years.

Saylor believes Bitcoin is emerging as a contender to traditional reserves like equities and real estate, stating, "Every nation that respects property rights is going to support Bitcoin."

Also Read: Bitcoin Crosses $100,000 — This Trader Predicted It At The $16,000 Bottom In November 2022

Why It Matters: At the DealBook Summit, Federal Reserve Chair Jerome Powell struck a similar tone to Michael Saylor., likening Bitcoin to gold rather than traditional currencies like the U.S. Dollar. "It's like gold—it's just virtual and digital," Powell remarked.

Data from FiatMarketCap, which compares Bitcoin to fiat currencies, shows BTC climbing to the 10th position in global currency rankings (from 33^rd in 2019), overtaking major players like the Australian Dollar (AUD), Brazilian Real (BRL), and Taiwan Dollar (TWD).

Comparatively, Bitcoin now ranks as the 12th largest “country” by value, ahead of nations like Australia, Italy and Brazil.

JPMorgan analysts anticipate significant growth for both Bitcoin and gold, with an optimistic outlook for 2025.

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