U.Today - In a recent tweet, Michael Saylor, the co-founder and chairman of MicroStrategy, issued a bold price prediction for Bitcoin (BTC). Saylor wrote that "$13 million is the Bitcoin Base Case."
Saylor posted alongside his tweet a graphic that depicts Bitcoin's 21-year price forecast. The graphic compares the Bitcoin price of 2024 and estimates for 2045.
With an estimated current price of $65,000 and a market capitalization of $1.3 trillion, the base case scenario price for Bitcoin was predicted to be $13 million in 2045 with a $3 million bear case and $49 million in a bull case.
In a bear case scenario, Bitcoin market capitalization is expected to reach $68 trillion; $280 trillion in a base case; and $1,030 trillion in a bull case.
At the recent Bitcoin conference, Saylor wowed the crypto community by providing interesting data to back up his prediction that Bitcoin's qualities as a digital capital may see BTC surpass $13 million per coin by 2045 as adoption develops.
Saylor, a firm believer in Bitcoin, began buying it in 2020 as an inflation hedge and cash alternative.
Saylor's company, MicroStrategy, is one of the world's largest public Bitcoin holders. As of June 20, it possessed a total of 226,331 BTC purchased for around $8.33 billion at an average price of $36,798.
BTC predictions
In the past week, asset manager VanEck, an issuer of spot Bitcoin and Ethereum ETFs, wowed the crypto community with its astonishing Bitcoin price prediction.
VanEck predicted that BTC's price may reach $2.9 million by 2050 if some significant hurdles are surmounted. The asset manager also predicted that Bitcoin may settle 10% of international trade and 5% of domestic trade gains by 2050, with central banks holding it as a reserve asset.
Meanwhile, the short-term sentiment remains optimistic howbeit cautious. According to Santiment, Bitcoin’s recent price rebound has shifted traders' sentiment to levels not seen in 16 months. "Bitcoin's +20% 3-week price rally has left traders feeling a whole lot more bullish than they were at the beginning of the month," Santiment wrote.
Bitcoin was down 0.83% in the last 24 hours to $67,489 at press time, according to CoinMarketCap data.