Michael Saylor Makes Case for Bitcoin as ‘Apex Commodity’ in New Keynote – Here’s What You Need to Know


MicroStrategy’s executive chairman, Michael Saylor, believes that Bitcoin (BTC) can still reach 1000x its current price of $41,500 in the long run. He explained this in a keynote published on Monday, claiming that all major asset classes will appreciate in value against the US Dollar, but that BTC would appreciate faster than any other.

“Bitcoin is the world’s leading scarce, desirable, portable, durable, and maintainable asset,” said Saylor. “Don’t work.” On average, investors earn 2.9% in returns annually, which is more than double the consumer inflation rate of 2%. It is almost impossible to outperform the monetary inflation rate (or rate of M2 money supply growth) of 7-8% per year in the United States.

The S&P index has done little more than remain on par with the monetary inflation rate since 2001, while Bitcoin lacks the former’s risk of asset devaluation due to companies issuing new shares, making it the “apex ETF”. Bitcoin’s fixed supply of 21 million coins also makes it the “apex commodity”, as it is impossible to produce competitors. Gold, Bitcoin’s largest competitor in that arena, still suffers from high transportation costs and fierce difficulty to audit.

As a form of property, real estate also suffers from major disadvantages in comparison to Bitcoin, such as maintenance costs, zone risks, immobility, and illiquidity. Bitcoin may even attract the attention of tech investors, who would normally choose to invest in top-performing companies like Apple, Amazon, and Tesla.

In Saylor’s view, while stocks continue to garner a 7% return year over year, Bitcoin will return an average of 14% per year once it matures. He expects Bitcoin to grow faster than 21% annually as people redistribute their wealth away from other asset classes and into BTC.

MicroStrategy is famous for going all-in on BTC, having accumulated over 174,000 coins since 2020. The company’s investment is up 37%, amounting to $2 billion in profit. Saylor himself bought over 17,732 BTC in 2020 which, assuming he hasn’t sold, is now up 320%.

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