MicroStrategy’s founder, Michael Saylor, claims that younger generations are increasingly turning away from traditional finance in favor of Bitcoin (BTC) due to its 24/7 availability and modern advantages.
In a recent CNBC interview, Saylor highlighted that millennials, born between 1981 and 1996, view Bitcoin as a superior alternative to traditional financial systems.
He points out that conventional finance is limited in its operations, often closed on weekends and requiring substantial costs to go public. In contrast, Bitcoin offers constant access and operates continuously, much like essential modern services.
Saylor argues that the traditional financial sector, with its restricted hours and high costs, seems outdated compared to Bitcoin’s always-on, 21st-century model. He suggests that if essential services like food or water were as restricted as traditional banks, it would be considered unacceptable.
Looking to the future, Saylor has forecasted a massive growth for Bitcoin, predicting an increase of over 19,000% over the next 20 years. He envisions Bitcoin’s annual rate of return (ARR) gradually decreasing but still significantly outperforming traditional investments.
By 2045, he anticipates Bitcoin could reach $13 million per coin, with a market cap of $280 trillion. He outlines a range of possible outcomes, from a $3 million bear case to a $49 million bull case, envisioning Bitcoin as a major global asset.
An analyst has outlined potential scenarios for Bitcoin’s price, projecting it could close 2024 within the range of $108,000 to $155,000 if historical trends continue.
Bitcoin has been climbing steadily, with some of its momentum tied to recent moves by the Federal Reserve.
With October on the horizon, investors are eagerly anticipating what the month might hold for Bitcoin and the broader crypto market.
10x Research’s recent analysis suggests that Bitcoin may be poised for a substantial rally by late 2024.