Michael Saylor, MicroStrategy’s executive chairman, anticipates Bitcoin capturing 7% of global capital in the coming years and surpassing other assets.

On Sept. 9, Bitcoin was trading just under $55,000 after a 2% rise in 24 hours. Saylor told CNBC that this price could increase by 70 times as adoption rises, potentially placing BTC at $3.85 million per coin soon.

Saylor explained that the thesis behind Bitcoin’s exponential price leap is rooted in its technological superiority over other assets and its yearly returns.

Since August 2020, when MicroStrategy began buying BTC, the cryptocurrency has rewarded investors with an average of 44% in annual profits. In comparison, the S&P 500 has averaged 12% over the same four-year period.

MicroStrategy’s founder also affirmed the software maker’s leveraged Bitcoin strategy. According to Saylor, securitizing BTC by selling convertible bonds to buy more crypto has yielded 825% on MicroStrategy’s capital. Nvidia, the S&P’s best-performing stock, has managed 821%.

The billionaire entrepreneur also argued that recent outflows from spot BTC exchange-traded funds (ETFs) would increase investor demand. Last week, Wall Street traders pulled $1.2 billion from BTC ETFs due to global financial market volatility. Crypto products recorded the second-largest week of outflows this year as well.

I enjoyed the opportunity to discuss #Bitcoin and strong, fast, smart money with @JoeSquawk, @BeckyQuick, and @AndrewRSorkin this morning,

In the long run, the former crypto skeptic turned BTC evangelist insists that HODL’ers will outperform volatility traders and those primarily focused on the asset’s short-term price movements.

HODL is crypto jargon for “holding on for dear life,” a term derived from the word “hold” and used to describe a long-term outlook on digital assets.

Saylor’s short-term view places BTC close to $4 million, but his longer outlook predicts an even larger price tag. The Bitcoin maximalist predicted that Bitcoin would trade at $13 million per coin within 21 years. Currently, Bitcoin’s trillion-dollar market cap commands 0.1% of global capital, but Saylor believes this number will surpass 13% before 2050.

For more updates and insights on cryptocurrencies, investing, and finance, stay tuned to Global Crypto News.

Post Views: 3