Bitcoin price could eventually skyrocket to $6 million; MicroStrategy CEO revealed owns at least 17,732 BTC
In an interview with The Information, the Bitcoin bull ahead of software intelligence firm MicroStrategy, Michael Saylor, reportedly disclosed a personal bitcoin stash worth $866 million. Accordingly, Saylor also predicted that the Bitcoin price could eventually skyrocket to a whopping $6 million.
MicroStrategy CEO Michael Saylor sees Bitcoin price reaching $6 million one day
Saylor believes that the BTC price is still far from reaching its long-term potential. In early December, MicroStrategy announced acquiring another $84 million, bringing its average purchase price to nearly $30,000.
After succeeding with its foray into Bitcoin last year, MicroStrategy has only made a very small profit on the money it has deposited in 2021. Saylor said that besides his publicly listed company’s goal of accumulating BTC, he also has similar aims. The chief executive reportedly owns at least 17,732 BTC. The business intelligence firm currently controls about $5.9 billion in cryptocurrencies. However, the sky-high returns have not shaken Saylor’s confidence in the largest cryptocurrency.
He has never sold any of his bitcoin, and in general, he doesn’t “believe you should sell your Bitcoin”. The MicroStrategy CEO reportedly said he envisions a bitcoin price of $6 million per coin in the future, a 12,000% increase over current levels.
It is up 70% since the start of the year, but it is down 29% from the all-time high peak logged last month. For comparison, the MicroStrategy stock is up roughly 40%. The benchmark S&P 500 index, for comparison, is up 22.33%.
“Our view is Bitcoin will be volatile because it’s plugged into the entire crypto market, and it’s new, but it’s going up forever,” he stated.
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