Bitcoin's market cap will eventually reach $500 trn, says Michael Saylor

Bitcoin's market capitalisation will one day eventually reach $500 trillion and surpass gold, real estate, and long-term financial assets as the top store of value, said Michael Saylor, the executive chairman and co-founder of MicroStrategy. Notably, Bitcoin (BTC) is the largest cryptocurrency by market capitalisation, estimated to be valued at around $1,650.16 billion, according to data from Binance.

 

During a Digital Asset Summit, Saylor said that dollars of capital are flowing into the network, shifting from the 20th century to the 21st century, and from physical to digital. He expects the funds to come into the digital network from Russian real estate, Chinese private equity, and markets in Africa and South America.

 

With the help of these flows, he expects the market capitalisation to jump from $2 billion to $20 billion, to $200 billion, to $2 trillion, to $20 trillion, and to $200 trillion. "And when it gets to $200 trillion, it'll continue to grow at a rate of 20 per cent, eventually reaching $300 trillion, $400 trillion, or $500 trillion," said Saylor.

 

Saylor further pointed out that capital is already flowing from foreign financial and physical assets into digital assets, and he believes it is unstoppable. He also expects the capital to shift from currency-based derivatives to digital commodity derivatives.

 

Saylor claimed that the flagship cryptocurrency is going to demonetise gold, real estate, and every long-term store of value.

 

"For me to say that Bitcoin is going to demonetise gold understates it. Yes, it's going to demonetise gold, then it's going to demonetise real estate, which is 10 times more valuable than gold," Saylor said. "Then it's going to demonetise every long-term store of value."

 

First introduced in 2009, Bitcoin is one of the most popular cryptocurrencies in the market. It is a decentralised digital currency that operates without a central authority. Bitcoin uses blockchain technology to securely record transactions on a public ledger. Since its creation, Bitcoin has become both a store of value and a subject of debate due to its volatility and potential for financial innovation.