Michael Saylor: 3 catalysts that will take Bitcoin to $5 million
Michael Saylor, the former CEO of MicroStrategy Inc. (NASDAQ: MSTR), is one of the most prominent and controversial Bitcoin (BTC) advocates in the world. Saylor is now forecasting Bitcoin to reach $5 million per unit due to three possible catalysts . Notably, if 1 BTC were priced at $5 million USD, Bitcoin would have a fully diluted market capitalization of $105 trillion. This would be 4.5 times higher than the United States GDP of $23.32 trillion in 2021, which looks like an unrealistic price target. Nevertheless, the former CEO of MicroStrategy seems convinced about this possibility. MicroStrategy is often considered an informal spot Bitcoin ETF due to its high exposure to the leading cryptocurrency. Interestingly, the company reportedly holds 158,400 BTC ($5,50 billion) for approximately 0.8% of the current circulating supply. Under Michael Saylor’s leadership, MSTR would extremely benefit from a surge in Bitcoin, either due to fundamental reasons or for a positive speculative...