In a recent interview with Bloomberg, Michael Saylor, the founder of MicroStrategy, made a bold prediction about the Bitcoin future. According to Saylor, the leading cryptocurrency is on the verge of a remarkable surge, potentially increasing its value tenfold. This optimistic outlook is primarily based on the growing regulatory clarity in the United States, which Saylor believes will shape the industry into a Bitcoin-focused market.
“I think that the public is beginning to realize that Bitcoin is the next Bitcoin, and the next logical step is for Bitcoin to 10x from here and then 10x again,” he told Bloomberg.
Regulatory clarity is going to drive #Bitcoin adoption by eliminating the confusion & anxiety that has been holding back institutional investors. Bitcoin dominance will continue to grow as the #Crypto industry rationalizes around $BTC and goes mainstream. pic.twitter.com/Foq4lpderj
— Michael Saylor⚡️ (@saylor) June 13, 2023
Saylor asserts that Bitcoin is the only universally acknowledged digital commodity that regulators are willing to accept. While stablecoins, crypto derivatives, and tokens face uncertain futures due to regulatory pressures, Bitcoin stands out as the digital asset with the greatest legitimacy in the eyes of regulators.
However, Michael Saylor’s forecast of a tenfold surge for Bitcoin is underpinned by the belief that regulatory clarity will pave the way for greater institutional adoption and investment in the leading cryptocurrency. As the industry narrows down to a Bitcoin-focused landscape, the businessman predicts increased dominance and heightened profitability for both Bitcoin and crypto exchanges.
Bitcoin Dominance Will Double, Michael Saylor Forecasts
Michael Saylor further highlights that Bitcoin’s dominance has already increased from 40 to 48 percent since the beginning of the year, and he anticipates this trend will continue. Saylor also predicts that the surge in Bitcoin’s dominance will significantly benefit the business models of crypto exchanges.
Despite the potential challenges posed by stricter regulations, he argues that a tenfold increase in Bitcoin’s value will ensure the profitability of these platforms. MicroStrategy’s founder further foresees a flood of institutional money flowing into Bitcoin as a result of regulatory clarity.
When questioned about the future of centralized exchanges, Saylor believes that they will continue to play a crucial role in helping individuals acquire and store Bitcoin. He notes the increasing demand for exchanges to facilitate Bitcoin transactions, especially as institutional investors and traditional financial institutions enter the space.
Saylor envisions a bullish future for Bitcoin, citing factors such as favorable accounting treatment, upcoming halving events, an increased hash rate, and recent regulatory clarity as catalysts for the next bull run.