Michael Saylor, CEO of the world’s biggest listed business intelligence provider, has stated that he anticipates the price of Bitcoin to triple every year until it causes demonetization of assets that are regarded as store of value.
Michael Saylor, while talking to Daniela Cambone of Stansberry Research, details that Bitcoin is a monetary force that will keep growing and luring several trillions of dollars in investment against the backdrop of ultra-loose monetary policies that are followed globally.
“In a monetary expansion environment where I crank the monetary inflation rate up by 15%, that $300 trillion has got to find a store of value that’s not a fiat derivative. That means that Bitcoin is going to keep growing and its monetary force is going to keep growing and it’s probably going to grow 200% a year until it has demonetized gold, silver, sovereign debt, bond indexes, stock indexes, every source of monetary energy which is just a store of value for someone that doesn’t want to lose their purchasing power and they need a scarce asset.
That being the case, I don’t really see an end to up. I think it’s going to keep going up for the next decade, you know, at a rate that’s pretty commensurate to what it’s been doing for the past decade.”
The advocate of Bitcoin (BTC) also underlined that the numero uno cryptocurrency eclipsed gold during a time when the yellow metal was expected to shine.
“Bitcoin is up 300% in the last 12 months and gold is up 15%. If you wanted a year when gold should have performed, a year of political instability combined with monetary expansion, this is the best year I can remember in my lifetime. Maybe back in the 70s you had something but in the last 20 or 30 years this is the year gold should have performed and it didn’t.”
Furthermore, Saylor points to the characteristics that have transformed Bitcoin as a better store-of-value in comparison to gold and real estate.
“Now, why is Bitcoin better property? Well, because it’s pure monetary property in cyberspace. It has no weight. Therefore, I can move it at the speed of light. It has no jurisdiction. Gold has to go into a vault in Manhattan or in London and some banks, some counterparty, and some government has some control. I can’t move a billion dollars of gold with my head in a few seconds from one side of the planet to the other side of the planet…
If you had a hundred million dollars and you bought land in California, the governor of California has some power over the value of the land. The government can impair the asset… With Bitcoin, the government can’t impair the asset so easily. The laws of physics don’t impair the asset and software engineering enhances the asset.”
