Michael Saylor, executive chairman and co-founder of MicroStrategy, has made a bold prediction that Bitcoin will eventually reach $10 million per coin. He shared this forecast during a podcast with Robin Seyr, adding that China will likely become a strong supporter of the cryptocurrency.
The Concept of “Perfect Money”
Michael Saylor is a well-known advocate for Bitcoin. In the interview, he explained his reasoning behind the $10 million prediction. He believes Bitcoin represents “perfect money” due to its decentralized nature and limited supply. According to Saylor, this sets Bitcoin apart from traditional money, which he calls “imperfect.”
“Perfect money is economic immortality,” Saylor said, comparing Bitcoin to older economic systems, which he sees as outdated. He described these systems as “pseudoscience” before Bitcoin’s creator, Satoshi Nakamoto, introduced the cryptocurrency.
Michael Saylor Criticizes Traditional Economics
Saylor criticized traditional economics, calling it a “quasi-religious liberal art” full of biases and opinions. He likened past economic practices to using “seashells and glass beads,” arguing that Bitcoin is a much more advanced financial instrument.
“All the economists before Satoshi were trying to work out the laws of economics with seashells and glass beads and pieces of paper and credit instruments,” Saylor claimed.
China’s Potential Shift to Bitcoin
Despite China’s current strict regulations on cryptocurrencies, Saylor predicted that both the Chinese people and their government will eventually adopt Bitcoin. He remains confident that Bitcoin’s value will skyrocket to $10 million per coin in the future.
Michael Saylor also discussed the idea of “corporate immortality” through Bitcoin investment. He suggested that companies that invest in Bitcoin could significantly extend their lifespans compared to those that rely on traditional financial practices.
“The average life expectancy of a corporation is something like 10 years,” Saylor noted. “We’re talking about eliminating corporate mortality, stretching economic vitality by a factor of 10, maybe by a factor of a hundred, maybe by a factor of a million.”
