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Michael Saylor Predicts Bitcoin Will Hit $10 Million, Gain Support from China

Michael Saylor predicts Bitcoin will reach $10 million, gaining China's support.

Mon, 24 Jun 2024, 04:36 am UTC

MicroStrategy's executive chairman Michael Saylor predicts Bitcoin will reach $10 million per coin and gain support from China during an 84-minute podcast interview, asserting Bitcoin’s future dominance.

Michael Saylor Predicts $10 Million Valuation and China's Adoption in Podcast Interview

In a recent report by Cointelegraph, Saylor made the following remarks during a comprehensive conversation with Robin Seyr, the presenter of the Bitcoin podcast.

In an 84-minute podcast interview, Michael Saylor, the outspoken executive chairman and co-founder of business intelligence company MicroStrategy, recently discussed Bitcoin's benefits, asserting that it will reach $10 million per coin and that the entire nation of China will support the cryptocurrency.

During the introduction of the video, brief excerpts of Saylor's assertion that "the cost of Bitcoin is going to increase to ten million dollars per coin" are displayed in conjunction with quotations that are typically delivered in the fashion of the entrepreneur:

“What’s the difference between perfect money and imperfect money? Perfect money is economic immortality. Imperfect money is: we all have a short, brutal life.”

In addition to Saylor's apparent conviction that Bitcoin is the future of money, the primary conclusion is that Bitcoin functions as a corporate immortality mechanism for society.

Using the query "What if I told you I could make your company live forever?" Saylor posed this concept.

He maintains that Bitcoin has rendered all preceding economic systems obsolete:

“Economics is pseudoscience before Satoshi. It’s a quasi-religious liberal art and it’s full of people’s opinions prejudices and biases. … All the economists before Satoshi were trying to work out the laws of economics with seashells and glass beads and pieces of paper and credit instruments.”

Michael Saylor Asserts Bitcoin Allocation Extends Corporate Lifespan

Ultimately, Saylor argued that organizations that allocate resources to Bitcoin are better equipped to endure than those that continue to be trapped in the corporate malaise of the past.

“The average life expectancy of a corporation is something like 10 years. … We’re talking about eliminating corporate mortality, we’re talking about stretching economic vitality easily by a factor of 10, maybe by a factor of a hundred, maybe by a factor of a million," according to Saylor.

Saylor also has a clear understanding of how this would operate. In addition to explicitly asserting that he believed the Chinese government and populace would adopt Bitcoin, he also predicted that a single Bitcoin would be valued at $10 million at some point in the future.

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