Michael Saylor, executive chairman of software intelligence firm Strategy (formerly MicroStrategy), reiterated his strong conviction in Bitcoin’s long-term performance during a June 6 interview with CNBC. He recalled issuing a $13 million Bitcoin price forecast in July 2024 based on an annual appreciation of 29% over 21 years. At the time, Bitcoin was trading around $65,000. The model projected BTC to reach $13 million by 2045. With Bitcoin now trading above $100,000, Saylor is becoming even more bullish. “I’m getting more bullish on that forecast. I’m certainly comfortable forecasting 30% a year on average for the next 20 years,” he stated.
Structural and Regulatory Tailwinds
Saylor highlighted several macroeconomic and regulatory developments that have materially reinforced Bitcoin’s investment thesis. These include the official classification of Bitcoin as a digital commodity by U.S. regulators, the adoption of fair value accounting rules, and new legal clarity allowing banks to offer Bitcoin custody services. He noted that these changes have driven accelerating institutional demand. “There are like 100 public companies or more. They’re holding Bitcoin on their balance sheet,” he said, adding that new participants continue to emerge weekly, indicating a broader shift in corporate treasury management strategy.
Supply Tightness
Saylor also emphasized Bitcoin’s tight supply dynamics. Only 450 new bitcoins are mined each day—equating to roughly $45 million to $50 million at current prices. This limited issuance is being fully absorbed by institutional buyers, including ETFs and corporations. “Supply is being locked up while demand keeps pouring in,” he remarked.
Unmatched Performance Relative to Other Assets
Comparing asset class performance, Saylor highlighted Bitcoin’s 57% compound annual return over the past four and a half years. That is twice the return of the so-called Magnificent Seven stocks, four times the S&P 500, eight times the real estate average, while bonds have declined by 4%. Based on these figures, he argued that Bitcoin’s growth outlook may exceed earlier assumptions. He concluded: “I’m very bullish.”