Demand for Bitcoin could grow by up to 10X within 12 months: Michael Saylor

During a speech at the 2023 Australia Crypto Convention on Nov. 10, Saylor was asked to offer his outlook for Bitcoin and its community over the next four to five years.In action, Saylor at first gave a rundown on the period in between 2020 and 2024, keeping in mind that Bitcoin went from being seen as a “offshore uncontrolled property” to an “institutionalized mainstream app.” Honing in on the near term, Saylor stated that BTC will end up being a “adolescent mainstream possession by the end of 2024,” as he highlighted essential dynamics surrounding supply and demand that will soon come into play: “I believe that this next 12 months is going to be a big. Its pretty unmatched that you would go from a supply and need balance of maybe $15 billion of organic demand and $12 billion of organic supply. Source: Australian Crypto ConventionSaylor went on to describe the next 12 months for Bitcoin as its “coming out party” as the asset graduates from “college” and heads out into the genuine world. “Youre going to have relentless competitors and will amongst Wall Streeters to get the most asset share and youre going to have crypto exchanges completing and youre going to have other tech companies getting involved.

With the Bitcoin halving simply months away, MicroStrategy co-founder and Bitcoin bull Michael Saylor thinks that demand for BTC might grow by as much as 10X by the end of 2024. Throughout a speech at the 2023 Australia Crypto Convention on Nov. 10, Saylor was asked to provide his outlook for Bitcoin and its ecosystem over the next four to five years.In action, Saylor initially provided a rundown on the duration in between 2020 and 2024, keeping in mind that Bitcoin went from being viewed as a “overseas unregulated possession” to an “institutionalized mainstream app.” Honing in on the near term, Saylor said that BTC will end up being a “adolescent mainstream property by the end of 2024,” as he highlighted essential dynamics surrounding supply and need that will quickly enter play: “I believe that this next 12 months is going to be a huge. Due to the fact that demand [on a monthly basis] need to double or triple or maybe go up by an aspect of 10, anywhere from 2 to 10. […] and the supply available for sale will be cut in half in April.”” So instead of a billion dollars of Bitcoin offered for miners monthly, it will be half a billion. Its quite unmatched that you would go from a supply and demand balance of possibly $15 billion of natural demand and $12 billion of natural supply. What takes place when one doubles, and the other one cuts in half? the price is going to adjust up,” he added. Speakers at the Melbourne-based event. Source: Australian Crypto ConventionSaylor went on to describe the next 12 months for Bitcoin as its “coming out celebration” as the property graduates from “college” and goes out into the real world. Looking at 2024 to 2028, Saylor anticipated that Bitcoin will continue to be in a high-growth stage as adoption spreads throughout the huge tech industry and mega banks worldwide, with both sectors incorporating Bitcoin into their services and products. Saylor also stated he anticipates to see a lot of competition among business like Apple and Meta (Facebook) to get their hands on BTC to eventually sell for significant revenues. “Youre going to have relentless competition and will amongst Wall Streeters to get the most property share and youre going to have crypto exchanges contending and youre going to have other tech business getting involved. […] Thatll be one check.”” The other check will be when the big mega banks or Bitcoin custodians with JP Morgan, Morgan Stanley, Goldman Sachs, Bank of America, Deutsche Bank, and, you understand […] when theyre making loans and providing home mortgages and customising it and purchasing and offering it. I think thatll be the second check,” he included. Looking even further into the future, at around 25 years, Saylor described some lofty forecasts for the future of Bitcoin, as he emphasized that BTC will blow any other premium property out of the water. “When it strikes that terminal development rate, maybe 20 years out, perhaps 25 years, or itll be growing twice as fast or compounding two times as fast as the S&P 500 Index, or any other diversified high quality portfolio of properties you might purchase,” he said, adding: “So if you consider it like that, you just state, well […] now were going to double were going to double again, were going to double once again, and were going to double once again, that coin is going to continue to progress to a million dollars a coin, $2 million a coin, $5 million a coin, $10 million a coin.” MicroStrategy currently holds around 158,400 BTC, and the company was up around $900 million on its investment since Nov. 2. Magazine: Recursive engravings– Bitcoin supercomputer and BTC DeFi coming quickly