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The founder of Microstrategy emphasized that the demand for Bitcoin will increase significantly after the halving next year. So that within the next year, the demand for Bitcoin will increase tenfold. In this post from “Pooyan Music“, you will read Michael Silver’s prediction of the state of demand for Bitcoin in the coming months.
With Bitcoin halving in just a few months, Microstrategy founder and bullish Bitcoin investor Michael Siler thinks demand for BTC could increase 10x by the end of 2024.
During a speech at Crypto Convention Australia 2023 on November 10, Silver was asked to outline his vision for Bitcoin and its ecosystem over the next four to five years.
In response, Silver first provided a summary of the period between 2020 and 2024. He then said that Bitcoin had gone from an “illegal offshore asset” to an “institutionalized mainstream program”.
In the short term, Silver said that BTC will become a “teenage mainstream asset” by the end of 2024. He also highlighted key dynamics around supply and demand that will soon come into play:
“I think the next 12 months are going to be huge. Because the demand [on a monthly basis] should double or triple. Or maybe even increase by a factor of 10. From two to 10. Therefore, the supply available for sale in April will be reduced by half.”
So instead of a billion dollars of bitcoin available to miners every month, it will be half a billion. It’s pretty unprecedented that you’re out of balance with $15 billion in organic demand and $12 billion in organic supply. What happens when one is doubled and the other is halved? “The price is being adjusted.”
Silver went on to describe the next 12 months for Bitcoin as a “graduation party.” Because this digital asset is like graduating from “college” and going into the real world.
Looking ahead to 2024 to 2028, Sayler predicted that Bitcoin will continue to be in a high growth phase. Because adoption is spreading in the big tech industry and big banks around the world. As a result, both sectors are integrating Bitcoin into their products and services.
Silver also said he expects to see a lot of competition between companies like Apple and Meta (Facebook) to acquire bitcoins to eventually sell at huge profits.
“You’re going to have intense competition and determination among Wall Street firms to get the largest share of this asset. They will be competing with digital currency exchanges and you will involve other technology companies as well. This is a sign.”
Another sign will be when the big mega-banks or custodians of Bitcoin with JPMorgan, Morgan Stanley, Goldman Sachs, Bank of America, Deutsche Bank, and others start to customize and buy and sell mortgage loans. I think that will be an important sign.
Looking further into the future, some 25 years in, Silver made some great predictions for the future of Bitcoin. He asserted that Bitcoin would outperform any other high-quality asset.
When it reaches that terminal growth rate, maybe 20 years later, maybe 25 years, or twice as fast as the S&P 500 or any high-quality diversified portfolio you can buy. “, He added:
So, if you look at it this way, from here we double, double again, again and again. That is, Bitcoin reaches 1 million dollars per coin, 2 million dollars per coin, 5 million dollars per coin, 10 million dollars per coin.
Microstrategy currently has about 158,400 bitcoins. The company has invested about 900 million dollars until November 2.
