Bitcoin price set to rise to $ 6 million: CEO of MicroStrategy

MicroStrategy CEO Michael Saylor predicted in an interview with The Information that Bitcoin price could eventually soar to a whopping $ 6 million per coin.

Saylor believes the price of the leading cryptocurrency is far from reaching its long-term potential.

In early December, MicroStrategy announced it had acquired an additional $ 84 million, bringing the average purchase price to nearly $ 30,000.

After MicroStrategy succeeded in its foray into Bitcoin last year, MicroStrategy made only a very small profit on the money it deposited in 2021.

Bitcoin price is up 70% since the start of the year, but 29% lower than its all-time high last month. In comparison, MicroStrategy’s reserves increased by approximately 40%. The benchmark index S&P 500 gained 22.33%.

The business intelligence company currently controls around $ 5.9 billion in cryptocurrencies.

The sky-high returns, however, haven’t shaken Saylor’s confidence in the largest cryptocurrency.

In a November interview with CNBC, Saylor made an overly optimistic prediction that Bitcoin will rise forever:

Our view is [Bitcoin will] volatile because it is connected to the whole crypto market and new, but the price will go up forever.

According to his interview with The Information, Saylor personally holds approximately $ 866 million worth of Bitcoin.

Those who followed Saylor’s comments shouldn’t be surprised by his strong bullish prediction. In February, he said that Bitcoin’s market cap would hit $ 100 trillion a day, meaning it would double the current value of the U.S. stock market.