Michael Saylor, co-founder and president of business intelligence software MicroStrategy, predicted that the price of bitcoin will reach its highest levels starting in November 2021 (approximately $69,000) “sometime in the next four years.”

Over the years, the 57-year-old businessman has portrayed himself as an outspoken supporter of the leading cryptocurrency, while his company is the largest corporate holder of BTC. Earlier this week, he amassed an additional 301 coins, rounding up his entire stash to 130,000 BTC.

Huge jump for BTC in the following years

Pro-bitcoin American business executive Michael Saylor appears unfazed by the ongoing crypto winter. Despite the market crash this year, he believes that Bitcoin will reach its all-time high of $69,000 within the next four years.

During his last interview, he further forecast that the leading digital asset could trade at $500,000 in the next decade if it matches the market capitalization of gold:

“The next logical step for bitcoin is to replace gold as a non-sovereign store of value asset.”

Michael Saylor, Source: Bloomberg

Despite the current significant difference between the two assets’ market capitalization (gold is around $11 trillion, while bitcoin’s is roughly $365 billion), Saylor has often given preference to cryptocurrency. .

Last year, he outlined the merits of BTC and claimed that it is 50 times better than the precious metal. This summer, he doubled down on that stance, saying the asset is “obviously better than gold and everything gold wants to be.” Instead of going to zero (as some might predict given the recent price drop), Saylor envisioned it shooting up to $1 million in the next few years.

MicroStrategy keeps buying BTC

A few days ago, the company interacted with bitcoin once again, spending $6 million to buy 301 coins at an average price of $19,851 per asset. Thus, the Nasdaq-listed company’s cryptocurrency holdings increased to 130,000 BTC.

However, due to the market downturn, MicroStrategy currently has a significant unrealized loss on its investment. Over the years, he has spent about $4 billion to build up his reserve, while this amount is now worth about $2.5 billion.

The company’s shares have also trended lower in recent months. Last November (when the crypto market was at its peak and Bitcoin was trading at almost $70,000), MSTR shares were worth more than $800, while now they are around $200 (a 75% drop).

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This post Michael Saylor sees Bitcoin trading at $69,000 in the next four years

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