Michael Saylor Predicts 10X Growth in Bitcoin Demand in 12 Months

Crypto Assets to Reach Adolescence by 2024

As the Bitcoin halving approaches, Michael Saylor, co-founder of MicroStrategy and Bitcoin bull, believes demand for BTC could increase by up to 10 times by the end of 2024. During his presentation at the 2023 Australia Crypto Convention, Saylor discussed the evolution of Bitcoin from an “offshore unregulated asset” to an “institutionalized mainstream app” between 2020 and 2024.

By the end of 2024, Saylor expects BTC to reach “adolescent mainstream asset” status, due to the combined effects of supply and demand, such as the flux crypto, dnt crypto, coval crypto, evergrow crypto, and degrain crypto. He also mentioned the potential for crypto bankruptcies and the recent decision of El Salvador to adopt Bitcoin as legal tender.

Crypto Industry is Growing

“It’s pretty unprecedented that you would go from a supply and demand balance of maybe $15 billion of organic demand and $12 billion of organic supply,” said Michael Saylor, CEO of big bear ai, when talking about the upcoming halving of Bitcoin’s supply. “What happens when one doubles, and the other one cuts in half? The price is going to adjust up,” he added.

Saylor believes that the next 12 months will be a “coming out party” for Bitcoin, as it graduates from “college” and enters the real world. He predicts that from 2024 to 2028, the crypto industry will be in a high-growth stage as adoption spreads across big tech companies and mega banks worldwide. Moreover, Saylor expects to see a lot of competition among companies such as Apple and Meta (Facebook) to acquire Bitcoin and eventually sell it for major profits.

Big Banks and Bitcoin’s Future

When it comes to crypto, one of the biggest checks is when the mega banks like JP Morgan, Morgan Stanley, Goldman Sachs, Bank of America, and Deutsche Bank start lending, buying, and selling Bitcoin. Mike Saylor, CEO of MicroStrategy, believes that this will be the second check.

Saylor has high hopes for Bitcoin in the coming years, as he believes it will outperform other high-quality assets. “When it hits that terminal growth rate, maybe 20 years out, maybe 25 years, or it’ll be growing twice as fast or compounding twice as fast as the S&P 500 Index, or any other diversified high quality portfolio of assets you could buy,” he said.

MicroStrategy currently holds around 158,400 BTC, and the firm was up around $900 million on its investment as of Nov. 2. With big banks and firms like MicroStrategy investing in crypto, it looks like the future of Bitcoin and other cyrptocurrencies like XRP, DNT, and FLUX are very bright.