Michael Saylor predicts Bitcoin could potentially 10x in value, bolstered by the 2024 halving event and a reduction in BTC selling pressure from miners.
He advocates for a mature and stable crypto industry, citing the need for a shift away from speculative tokens towards Bitcoin, especially after Sam Bankman-Fried’s conviction for fraud. Between those events is the halving, which will reduce 50% of the BTC mining rewards for miners, forcing miners to sell their stash of BTC to keep the lights on, Saylor noted.
These scenarios could drive an “unprecedented demand” for Bitcoin —contracting supply, buying pressure, and geopolitical tension coupled with global economic strains.Another crucial scenario Saylor spoke about is approving a Bitcoin spot ETF, which many investors are convinced will drive Wall Street and other institutional investors towards BTC. Interestingly, investment research firm Bernstein predicted that a future ETF could push prices north of $150,000 by 2025.
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