Many cryptocurrencies have skyrocketed since Donald Trump won the presidential election last November.
The Trump administration is undoubtedly a more professional code than its previous administration.
Michael Saylor has been extremely bullish in code for years. He especially hopes that one cryptocurrency will absolutely soar over the next 20 years.
This year, especially in April, was a wild ride for this year’s market, which was largely due to volatility caused mainly by Donald Trump’s tariffs. Assets including Bitcoin, the world’s largest cryptocurrency, are inevitable (Cryptography: BTC)Although it was low at $75,000 in early April, it has proven to be quite resilient, returning to around $94,780 (as of April 28th). Overall, Bitcoin has still been working very well since Trump won the election in early November, rising about 38% since.
Not as bullish as Michael Saylor, Co-Founder and Executive Chairman of MicroStrategy (NASDAQ:MSTR)and now we are running business as a strategy. Saylor believes Bitcoin’s run is beginning to kick into high gear. In fact, Saylor believes that Bitcoin can rise to $13 million per token over time. This is why.
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In 2020, Saylor pivoted his business at MicroStrategy, which was originally a business intelligence company, and began purchasing big hos of Bitcoin using all the cash available. Bitcoin has since taken off, similar to MicroStrategy’s stock. Saylor was able to tap on the capital market to raise capital that the company could use to buy more Bitcoin.
Bitcoin Price Chart
Bitcoin price data by YCHARTS
The success made Saylor even more bullish. He shocked the world last year when he said he thought Bitcoin could rise to $13 million per token. His paper believes that Bitcoin can generate an average annual revenue of 29% over the next 20 years, increasing its token to $13 million. “Now we are at 60% ARR and we will slow down to 20% over the next 21 years and our volatility will slow down,” he said.
Saylor hasn’t wavered since. Not only did MicroStrategy continue to buy a huge amount of Bitcoin money, but in a recent interview, Saylor’s comments showed he is as bullish on Bitcoin as ever. He said Bitcoin will be 30% to 60% higher per year for the next 20 years. “…I bought it for $10,000. I bought it for billions of dollars, for $100,000. I bought it for $1 million. I bought it for $10 million,” says Saylor.
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Despite growing investor uncertainty, the regulatory environment has undoubtedly been much better for crypto since Trump took office. Regulators, which previously took a more stringent approach to crypto regulations, have either resigned or been pushed out. Trump has brought pro-cryptic officials as advisors and into his cabinet, and he has created a strategic Bitcoin reserve.
Recently, federal bank regulators have withdrawn the supervisory guidance that essentially instructed banks to be careful when interacting with crypto, and essentially instructed them to seek regulatory approval before carrying out certain crypto-related activities. This is a clear nod for banks and traditional financial institutions, allowing crypto to be brought even more freely into the mainstream financial system. Securities companies find it easier to sell a wider range of cryptocurrencies.
I definitely warn investors from reading too much to Saylor’s bold $13 million forecast. It is quite unclear how he came up with how he predicted. It seems almost impossible to try to predict the price targets for volatile assets like Bitcoin. That said, I think investors can buy Bitcoin for their portfolio. Given the finite supply of Bitcoin of 21 million tokens, many believe that Bitcoin serves as a hedge against inflation or as a digital form of gold, which has become a crazy run in recent years.
Furthermore, it is unclear what will happen to the US dollar under Trump’s tariffs and the debt problems facing the US government. Bitcoin has historically had an inverse relationship with the dollar, given that it was created as an alternative currency. For all these reasons, investors can get to touch Bitcoin and I think it will get higher over time. Whether it will reach nearly $13 million per token is a big guess.
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Bram Berkowitz has a Bitcoin position. Motley Fool has a position and recommends Bitcoin. Motley Fools have a disclosure policy.
According to Michael Saylor, co-founder of MicroStrategy, the best cryptocurrency to buy before 13,616% rises 13,616%
