Bitcoin’s price is expected to hit $6 million, according to Microstrategy’s CEO, who believes it is “unstoppable” and will eventually replace gold. The executive owns 17,732 bitcoins personally, while his company has 122,478 bitcoins.
The CEO of Microstrategy predicts a $6 million Bitcoin price.
In a recent interview with the Information released this week, Microstrategy CEO Michael Saylor discussed his bitcoin strategy and BTC price projection.
Saylor confirmed that he possesses at least 17,732 bitcoins, the same number he revealed in October of last year. His bitcoin holdings are worth over $858 million at today’s BTC price.
Microstrategy’s executive has never sold any of his bitcoins and believes they should never be sold. In addition, according to the data:
Saylor believes bitcoin will eventually reach $600,000 per coin, and then $6 million.
Microstrategy, on the other hand, has acquired 122,478 BTC, which is worth about $6 billion at the present pricing. According to the company’s “Investor Day” presentation, the coins were purchased for an average purchase price of $29,861 and a cost basis of $3.7 billion.
“The world’s largest publicly traded corporate holder of bitcoin and the first public business to utilize bitcoin as its principal treasury reserve asset,” according to Microstrategy. Its long-term aim is to “acquire and keep bitcoin” and to “buy bitcoin using excess cash flows, loan and equity transactions.”
In November, Saylor predicted that bitcoin will “emerge as a $100 trillion asset class” and that it would be “unstoppable.” BTC, according to the CEO, will eventually replace gold. “Once upon a time, gold was the most sought store of value,” he declared earlier this month. Bitcoin has now taken its position.”