Michael Saylor, the CEO of MicroStrategy, believes that the market capitalization of Bitcoin will soon touch $100 trillion. Michael told CNBC that the digital asset would continue to grow till it becomes a stabilizing influence on the global financial system.
Regardless of the fall in the price of Bitcoin today, the digital asset has recently managed to cross the market capitalization of $1 trillion.
However, Saylor's predictions of a rise in the price of cryptocurrency show an increase up to 100 times its current value. Foreseeing such a drastic increase in the price of Bitcoin shows his ultimate belief in the digital asset.
Michael Saylor released a statement in support of his huge predictions, that read:
In addition to this, Michael said that once Bitcoin crosses the value of gold; it will subsume monetary indexes and sovereign debt with negative yield until it reaches $100 trillion. He added:
Michael Saylor has been a known supporter of Bitcoin and he is also known for his recent decision to invest about $1.15 Billion of cash holdings of MicroStrategy in Bitcoin.
Moreover, since he made announcements of purchasing Bitcoin, MicroStrategy has surged over 300%. Along with that, it is also said that Michael Saylor played a vital role in Elon Musk's Tesla investing $1.5 billion in Bitcoin.