Michael Saylor, one of the world’s largest Bitcoin whales, has set a date for the new peak in BTC. He said that bitcoin could replace gold.
Michael Saylor predicts massive $10 trillion crypto
The Fed’s rate hikes aimed at slowing inflation were the reason for the recent sales. Bitcoin swayed wildly this week as investors brace themselves for a Fed “sledgehammer” that could trigger a “worse-than-2008” crash. Now, Michael Saylor, head of software company MicroStrategy, says that Bitcoin will return to $68,990 in the next four years. The Bitcoin whale, however, said that Bitcoin could replace gold. In a statement to MarketWatch this week, Saylor noted the following compared to gold and BTC:
The next logical stop for Bitcoin is to replace gold as an independent store of value. Bitcoin is digital gold, 100 times better than gold, and if Bitcoin catches up to it, its value will go to $500,000.
cryptocoin.comAs you’ve followed, Saylor resigned as MicroStrategy’s CEO in August. His resignation came after MicroStrategy reported losses of close to $1 billion in the second quarter of 2022. Saylor is currently renewing its support for Bitcoin from social media at every opportunity. He says at MarketWatch’s Best New Ideas in Money Festival that Bitcoin will “institutionalize”, without giving a clear date. Saylor added that Bitcoin could surpass gold “within the next decade.”
However, Saylor warns there is no short-term Bitcoin forecast.
Saylor stated that he has no idea what the Bitcoin price will be 12 months from now. However, he pointed out that all markets are extremely volatile due to the Federal Reserve’s monetary tightening policy. Saylor points to Bitcoin price’s four-year moving average for a potential bottom:
Bitcoin price “reached $20 a few times. I think this is stable.
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