Michael Saylor Predicts Bitcoin Will Crush the S&P 500—Can It Really Reach $13 Million?

Michael Saylor, co-founder and chairman of MicroStrategy, has projected that Bitcoin will significantly outpace the S&P 500 in profitability. MicroStrategy, known as the largest publicly traded holder of Bitcoin, has been at the forefront of cryptocurrency investment.

In an interview with CNBC, Saylor predicted that Bitcoin’s price could reach $13 million over the next 20 years. He suggested that Bitcoin’s long-term annual return will likely surpass the S&P 500 by 8%.

Saylor anticipates that Bitcoin will maintain an average annual growth rate of 44% in the short term but gradually decline by about 5% per year as the asset matures. To meet its predictions until 2045, Bitcoin must maintain an average annual growth rate of 29.56%.

Saylor made similar predictions at the Bitcoin 2024 conference in Nashville, Tennessee. He noted that Bitcoin’s price will continue to be volatile because it is a highly liquid asset traded globally around the clock.

He said that Bitcoin’s market capitalization stands at $1.3 trillion, which is only 0.1% of global wealth. He estimates that Bitcoin could surpass $13 million by 2045, capturing 7% of global wealth.

Saylor also claimed that MicroStrategy had been a trailblazer in the Bitcoin collateral bond market by issuing billions of dollars in convertible bonds to purchase Bitcoin.

On the other hand, a prominent Bitcoin skeptic, Peter Schiff, dismissed Saylor’s optimistic outlook, calling his positive assessment of Bitcoin and MicroStrategy “nonsense.” On his X (formerly Twitter) account, he pointed out that MicroStrategy has dropped 40% from its 52-week high and is currently 6% lower than its peak in 2021. Schiff argued that the actual returns are not as favorable as Saylor claims and will likely worsen.