According to Cointelegraph, MicroStrategy co-founder Michael Saylor predicts that demand for Bitcoin (BTC) could grow by as much as 10 times by the end of 2024. Speaking at the 2023 Australia Crypto Convention on November 10, Saylor discussed the key dynamics surrounding supply and demand that will soon come into play. He believes that the next 12 months will be significant for Bitcoin, with monthly demand potentially doubling, tripling, or even increasing by a factor of 10, while the supply available for sale will be cut in half in April.
Saylor described the next 12 months for Bitcoin as its 'coming out party' as the asset graduates from 'college' and enters the real world. From 2024 to 2028, he expects Bitcoin to continue its high-growth stage as adoption spreads across the big tech industry and mega banks worldwide, with both sectors integrating Bitcoin into their products and services. Saylor also anticipates fierce competition among companies like Apple and Meta (Facebook) to acquire BTC for eventual major profits.
Looking 25 years into the future, Saylor made some bold predictions for the future of Bitcoin, emphasizing that BTC will outperform any other high-quality asset. He believes that Bitcoin will eventually reach a value of $1 million, $2 million, $5 million, or even $10 million per coin. As of November 2, MicroStrategy holds around 158,400 BTC, with the firm's investment up around $900 million.