Michael Saylor, the Executive Chairman and founder of Strategy (formerly MicroStrategy), has once again revised his long-term forecast for Bitcoin, now projecting a price of $21 million by the year 2046. This updated prediction, delivered at the BTC Prague 2025 conference, significantly increases his previous estimate of $13 million by 2045, made just last year. Saylor, a well-known Bitcoin advocate, bases his bullish outlook on a variety of factors, including geopolitical shifts, regulatory developments, and growing institutional adoption of the cryptocurrency.
Saylor highlighted the significant changes that have occurred in the past year, particularly the White House's embrace of Bitcoin. He emphasized that he has consistently maintained a positive view on Bitcoin, even during periods of market downturns, such as when it fell to $16,000. He believes Donald Trump's presidential victory brought a significant shift in politics, and that America would be the Bitcoin leader.
Saylor's company, Strategy, has become a major player in the Bitcoin space, amassing over 500,000 BTC, making it the largest corporate holder of Bitcoin worldwide. This strategic move, initiated in 2020, has transformed Strategy from a traditional software company into a Bitcoin-centric enterprise. The company continues to expand its Bitcoin holdings, and recently announced plans to raise $2.1 billion through an at-the-market sale of preferred stock, with the primary intention of purchasing more Bitcoin.
Several factors are fueling Saylor's optimism. Firstly, he expects Bitcoin to grow at an annual rate of 30% over the next 20 years. Secondly, institutional adoption is on the rise. He pointed to 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 as key drivers of increasing institutional demand. He noted that over 100 public companies now hold Bitcoin on their balance sheets.
Furthermore, Saylor believes that Bitcoin will eventually replace gold as the primary store of value, potentially reaching a value of $5 million per coin. He identifies the approval of a spot Bitcoin ETF, banks offering custodial services with lending, and fair value accounting on corporate balance sheets as the key triggers for this shift. Saylor predicts that Bitcoin's decentralized, non-sovereign nature makes it an ideal store of value, especially in an environment of rising inflation.
While Saylor's $21 million forecast is among the most optimistic, other analysts have also offered long-term Bitcoin price predictions. The Quantile model projects milestones of $300,000 by 2029, $3 million by 2039, and $10 million by 2046. Fidelity Investments estimates that Bitcoin could reach $1 billion per coin by 2038-2040, based on Metcalfe's Law, which suggests that the value of a network grows as the network expands.
However, it's important to remember that these are just predictions, and the future price of Bitcoin is subject to a wide range of factors and uncertainties.
