Bitcoin is going to replace gold and become one of the most powerful assets to hold on the planet. That’s what Microstrategy CEO Michael Saylor says about the future of bitcoin as institutional adoption rises.
“We are going to keep stacking forever,” Saylor said after being pressed on whether his company, which owns 114,042 BTC would seek out more, or wait for a pullback on price. “It’s pretty clear that bitcoin is winning, gold is losing, and it’s going to continue. It’s pretty clear digital gold is going to replace gold this decade.”
Is Bitcoin going to be a trillion dollar asset?
A fortune. Experts like Saylor say BTC will be worth $1 million per coin.
“At the end of the decade it will have flipped gold, and then it will flip monetary indexes, a little bit of bonds, a little bit of real estate, a little bit of equity, and emerge as a $100 trillion asset class. So, 100X of where it is right now,” he explained to CNBC.
Overall, he expects bitcoin (BTC) to represent 5% to 7% of the global economy. At that point, there will only be a few traditional currencies left.
Even with massive growth – bitcoin won’t be stopped. At current trend, even major governments will have difficulty stopping its move to mainstream. Given the utility of bitcoin, there’s little chance that any government – even those most powerful in the world – will be able to slow down its growth.
What does Bitcoin growth mean for the U.S. dollar?
Don’t worry. Bitcoin isn’t going to replace the U.S. dollar. But, it will help the dollar expand. In fact, Saylor thinks there will only be a few official currencies left by the end of the decade.
At that stage, the U.S. dollar will replace 100 to 150 other currencies around the world. “There might be the euro, the CNY, and the dollar. Everything else is probably going to disappear,” Saylor added. “And then bitcoin will be the world’s monetary index. If you simply want to keep your money, and you don’t want to express a credit sentiment, or an equity sentiment, or some property or real estate sentiment.”
There’s no doubt that if that comes to fruition the entire global economy will look drastically different than present day.