Unpacking Michael Saylor’s Latest Bitcoin Forecast of $10 Million Per Coin

• BTC could reach $10 million per coin, according to Michael Saylor.
• Power Law confirms its predictions, but the model has its assumptions and limitations.

Bitcoin (BTC) fell further to $62,000, down 13% from its June high of $71,900. Despite the pullback, MicroStrategy founder and CEO Michael Saylor maintained his ultra-bullish stance on the largest digital asset, at least in the long term.

In a recent interview, Saylor projected a price target of $10 million per BTC and called it “economic immortality.” He added,

“What is the difference between perfect money and imperfect money? Perfect money is economic immortality. Imperfect money has a short and brutal life.

Saylor linked traditional money to imperfect money. He noted that once a crisis arises, whether family, professional, business or national, people become more open to Bitcoin.

Michael Saylor’s Goal: Is $10 Million Per BTC Achievable?

Source: Bitbo

The Bitcoin price projection based on the Power Act supported Michael Saylor’s bold projection of $10 million per BTC, tentatively by 2040.

Power Law provides future projections based on previous growth and historical trend captured on a logarithmic scale. Based on the model and chart above, Bitbo note,

“After 2028, the price will never drop below $100,000. The price will reach $1,000,000 per bitcoin no earlier than 2028 and no later than 2037. After 2037, the price will never drop below $1,000,000.

However, the projection should not be followed blindly as it does not take into account progress, regulatory changes or other factors that could affect BTC.

But this isn’t the first time Saylor has made a bold BTC projection. In December 2023, Saylor declared that the market capitalization of BTC could reach 10 to 20% of total global wealth ($900 to $1 trillion).

If so, according to Saylor, BTC could reach $10 million per coin if it captures 20% of global assets. At press time, the overall market value of BTC was $1.2 trillion, per CoinMarketCap, which is less than 1% of total global wealth.