Michael Saylor goes nuts: he predicts a $15 million Bitcoin price.

[bbc.reporter]

His larping and optimism will be tested if bitcoin was dumped back to $10k where his position will certainly be on a loss. I speculate he might be one of the first whales to dump because of fear that it might affect Microstrategy negatively hehehe.

[STT]

They still make wooden boats, sure its a good argument in favor of steel but total replacement never happened.  Same deal with oil and coal, the prior generation is not being wiped out as it often has key reasons in its favor that stand regardless of technology development.   Coal will be used as energy in a hundred years I bet, it has the highest calorific value for transport and is stable over years of storage in most cases but it'll never be #1 energy again.   Thats the better argument, to transition and advancement through efficency, BTC has a long way to go before it can argue itself most efficient.  Forget the price, thats not the determiner of success imo

The problem with targeting gold is that its an element useful in many ways, some we wont even know yet as development will carry on I think.   It cant be replaced as its unique, its not a good way to qualify BTC as succeeding or not.  I dont even see crypto and gold as being in competition, like I said they do different things and have their own advantages.  
  So the target is off, central banks store gold and issue FIAT, its alot easier to say central banking has had its day as #1 monetary system across the world and it has failed to represent capitalism instead they monetize politics.

[ice18]

Of course he will predict such insane price prediction since he is holding huge amount of btc and maybe he wants to create fomo in this bull market who knows if every people in the world wants to own btc then $15m can be easily achieved the only problem if all governments wants to control btc and declare its illegal.     

[nelson4lov]

I don't know how many people would be able to buy bitcoin if the price is that high? In my opinion, not so much. Such a price would only incentivize whales and other big holders to manipulate the market the way they want since only a few people would be able to afford a reasonable amount of Bitcoin.

Of course he will predict such insane price prediction since he is holding huge amount of btc and maybe he wants to create fomo in this bull market who knows if every people in the world wants to own btc then $15m can be easily achieved the only problem if all governments wants to control btc and declare its illegal.     

What happened to being a decentralized and inclusive community? At $15M, only a few people would own bitcoin. I'm considering those low income earners and people in rural areas, how do these people have access to everything bitcoin has to offer?

[el kaka22]

Michael Saylor was always a bit crazy, dude managed to lose 90% of his companies money before, to stay as the CEO after such a thing is a big achievement if you ask me, and that means we are talking about someone who understands about risks involved with things, and he makes grand claims because that is how he could look great for the investors as well.

If he keeps this up, and keeps investing into bitcoin, and makes this kind of returns for his customers, that means he is going to end up with more and more money from investors, and that is why he makes these claims. Dude was always crazy so I am not shocked that 15 million dollars bitcoin is sensible to him, and I doubt he is lying neither, dude probably believes he is right. I am a bitcoin minimalist as well but 15 million dollars is like a joke, maybe 150k at best if you ask me in short term.

[thecodebear]

I don't know how many people would be able to buy bitcoin if the price is that high? In my opinion, not so much. Such a price would only incentivize whales and other big holders to manipulate the market the way they want since only a few people would be able to afford a reasonable amount of Bitcoin.

Of course he will predict such insane price prediction since he is holding huge amount of btc and maybe he wants to create fomo in this bull market who knows if every people in the world wants to own btc then $15m can be easily achieved the only problem if all governments wants to control btc and declare its illegal.     

What happened to being a decentralized and inclusive community? At $15M, only a few people would own bitcoin. I'm considering those low income earners and people in rural areas, how do these people have access to everything bitcoin has to offer?

Well that doesn't make sense. Price goes up due to demand. at $15 million it wouldn't be a few people who own Bitcoin, EVERYONE would own bitcoin. Not sure you understand price dynamics. If few people own Bitcoin price is low. More demand higher the price goes.

[thecodebear]

Obviously he is wrong about how much from those other assets will flow into Bitcoin. All investors aren't going to jump ship on all other investments and pile them into Bitcoin.

Stocks offers shares in companies, companies use them to raise money, you get cash flow in the form of dividends. Bitcoin doesn't replace that stuff.
Bonds offer low risk way to get a steady low stream of income, without the volatility of other markets. Again, Bitcoin doesn't replace this.

I could see some of this money moving to Bitcoin eventually when enough people realize Bitcoin's potential. Most people still don't realize its potential, which is why current prices are nothing compared what could be in the future.

Gold is 10+ trillion right now, global bonds are 100+ trillion, global stocks are 100+ trillion. I don't know how much is in fiat currencies globally but apparently just in USD there is ~37 trillion.

I could reasonably see a trillion each from Gold, bonds, and stocks being shifted into Bitcoin for the purpose of its superior wealth generation dynamics. Throw in maybe a trillion from USD shifted into Bitcoin specifically for the purpose of holding personal savings or corporate treasuries in an asset that will safely gain value over the long term rather than assuredly lose value. In this equation that's 4 trillion moved into Bitcoin from other assets, but of course that money coming in would have a far larger effect on the market cap than just adding 4 trillion to the cap. That might add a million dollars or more to the price. Then of course there's all the money that people aren't moving from other investments, but just putting in their earned income, both retail investors and HNWI's, which would add a bunch more. Add in money shifting from other places, more massive fiat printing over the coming years to deal with the fact that the world has walked itself into financial quagmire for quite a while now, and then add in inflation on top of all this. I could easily see a BTC price of several million dollars by say 2050. Not Saylor's $15 million, but at least a significant portion of that number.

[jaberwock]

Price goes up due to demand. at $15 million it wouldn't be a few people who own Bitcoin, EVERYONE would own bitcoin. Not sure you understand price dynamics. If few people own Bitcoin price is low. More demand higher the price goes.

First of all I do not agree with 15 million dollars price neither, that sounds absurd and definitely not realistic at all, it is probably just made up number to get attention. However just to make it easier for people to understand how people could own bitcoin at that stage, there are two methods that you can assume.

Let's say there is bitcoin price at 15 million dollars, how about buying 100 satoshi instead of trying to buy 1 bitcoin? Or get 10k satoshi? I mean people could try to buy bitcoin according to how much money they have, and even 1 satoshi is a decent amount in that situation and would be an investment, so you could go with that. Or the second method, do you really think bitcoin becoming 15 million dollars would mean all the alts would be current price? They would go up too, and you can try to buy 0.1 ETH for example? Or whatever coin you want, whatever amount you want? That would be an option too.

[Sithara007]

These wild predictions are cues of an impending market crash.  Not saying that price won't happen, but that's a stupid prediction to be making at this point. 

Obviously when someone is making such crazy predictions without much logic behind it, I usually ignore them. But there were a few high quality predictions regarding the future Bitcoin prices recently. One of them was from Nikolaos Panigirtzoglou (JPMorgan Chase & Co.). He made a prediction of $146,000 based on a study which compared gold and Bitcoin. Another quality prediction was made by Tom Fitzpatrick (Citigroup Inc.), who predicted $318,000 based on a technical technical analysis of prior highs and lows. And most importantly, these predictions ere made before the current rally.