A cryptocurrency to buy before it rises by 13,000%

The impressive rise of this cryptocurrency may be far from over, according to Michael Saylor, executive chairman and co-founder of MicroStrategy. The expert is convinced that it will soon reach a worth of $8 million.

Why? According to Saylor, this specific cryptocurrency represents a type of “perfect money”. It is anti-inflationary, making it a potential hedge against inflation. It is a superior long-term store of value, making it an alternative to physical gold. It is resistant to government seizure, making it a potential safe haven if you live in a country with an intrusive central authority.

That’s right, we’re talking about Bitcoin.

According to the prediction shared by Saylor at the Bitcoin event in Prague in recent days, considering the current price of around $60,000, this would be a return on investment of over 13,000%.
A rise that is equivalent to the surge in the price of Bitcoin from 450 to 60,000 dollars, a bullish movement that took almost 10 years to materialize.

If you also thought that a Bitcoin price of 8 million dollars is an absurd prediction, you are in excellent company.
But it is still worth investigating the reasons why the expert came to this belief. After all, he might not be entirely wrong.

Bitcoin is the “perfect money”

Bitcoin is a digital currency created by an algorithm and has some very specific properties that distinguish it from traditional money. For one thing, it has a limited offer. Once the maximum supply has been reached, it will no longer be possible to create BTC, unlike what happens with central banks.

Only 21 million Bitcoins can exist, and the algorithm carefully monitors the overall circulating currency. Additionally, Bitcoin is a completely decentralized currency, meaning that no sovereign power or government can control it.

According to Saylor, over time the differences between Bitcoin and traditional currencies will become even more apparent, which will lead to capital flowing into assets denominated in Bitcoin rather than dollars. Bitcoin may also succeed in revolutionizing the global financial system and the world move towards a new cryptocurrency standard.

An incredibly optimistic vision.

Yet, it is difficult to deny that the US government, like many other European countries, is managing a deficit that is now unsustainable. At a certain point, savers could stop buying government debt, Treasuries first and foremost, and that’s when the scenario presented by Saylor could start to materialize.

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Bitcoin guarantees companies “immortality”

For years, Saylor has been suggesting companies add Bitcoin to their balance sheets as a liquidity repository. MicroStrategy itself has been following an aggressive Bitcoin purchase strategy since 2020. In four years it has purchased so many Bitcoins that it is now the company that holds the most in the world - 1% of all Bitcoins in existence, worth approximately $15 billion.

According to the expert, holding Bitcoin on a company’s balance sheet is the secret to achieving what he calls “corporate immortality”. With the value of Bitcoin perpetually increasing, the value of a company that holds it will also increase.

To illustrate this point, Saylor refers to the last 100 years of U.S. economic history. How many companies born 100 years ago still exist? A handful. The last Bitcoin will be mined in 2140, so companies holding significant amounts of Bitcoin today theoretically have every potential to live for another good 100 years.

Will Bitcoin’s $8 Million Prediction Come True?

Saylor’s prediction is based more on a macro narrative oriented towards the direction the world is heading, rather than a numbers-based analytical model. So it is perfectly plausible that the investor decides to ignore such a view.

What appears undeniable is that a paradigm shift is underway in the global economic order. For this reason, more and more investors are becoming optimistic about Bitcoin’s ability to increase in value over the long term. On reaching 8 million, only time will tell who will be right.

Original article published on Money.it Italy 2024-07-06 13:51:00. Original title: Una criptovaluta da comprare prima che salga del 13.000%