Topic: Michael Saylor goes nuts: he predicts a $15 million Bitcoin price. - page 2. (Read 360 times)
January 10, 2021, 10:41:21 AM
It is a fairly large figure, I would like it to come true, although it is not impossible, I think it is quite difficult for it to happen, more in these times, a real figure based on what is happening in the market may reach about $ 100k, with the absolute investment of private companies as they are doing now. It may happen in a few years, right now I do not see that arrival at $ 15M possible.
January 10, 2021, 10:30:28 AM
I wish he is right but I also wonder if he is delusional.
that is not about being delusional or not, it is not even about predicting the bitcoin price. it is all about being seen and heard to gain some publicity even for a short time.
just think about it, some a$$hole whom we haven't ever heard of is now being quoted globally just because he made a random comment about bitcoin price in the future and that was positive.
the worst part is that all of these types of people fill the internet whenever price is rising up like this. remember McAfee? you would have never even heard from them when price was dropping hard. of course in this case he is just advertising himself and his business
January 10, 2021, 08:30:27 AM
Look at the TSLA stock. A corporation, with an annual net loss of $1 billion is having a market cap of close to $1 trillion. When a loss making venture such as TSLA can have such a huge market cap, then why can't Bitcoin have a market cap of several trillions?
Tesla has actually been posting record profits. They were burning cash in 2019 but now they're up 5 quarters in a row, likely 6 when Q4 numbers come out.
I think people see them as the next Amazon trade. Amazon posted losses for years and years as a young public company before basically taking over the world. From the early days to now AMZN has gained something like 180,000%.
Tesla obviously doesn't have quite the same growth potential but this is a market of greater fools, and TSLA is a crowded trade.
January 10, 2021, 07:01:20 AM
I don't know whether such crazy predictions are feasible, but then today's market looks overpriced in every sector. Look at the TSLA stock. A corporation, with an annual net loss of $1 billion is having a market cap of close to $1 trillion. When a loss making venture such as TSLA can have such a huge market cap, then why can't Bitcoin have a market cap of several trillions? But a market cap of $300 trillion? It sounds impractical for me.
January 10, 2021, 06:30:44 AM
But will he eat his dick on national television if Bitcoin won't reach this price?
Metal ships are better than wooden ships in pretty much every aspect. The same isn't true for Bitcoin vs gold, there's many differences between them. Bitcoin is relying on electronics, any scenario that disrupts them, like EMP, solar flare, nuclear war and other disasters, would stop Bitcoin. Bitcoin is prone to hacking - if you're not careful, it can be stolen by malware that you get by clicking on sketchy links. Gold is nearly impossible to destroy - Bitcoin is quite easy to lose if you are not using some quality steel plates or have backups in multiple places, which most people don't.
In the above video, minutes 14:28 to 25:25 he speaks of gold being totally replaced by bitcoin as a store of value in the same way that wooden ships were replaced by steel ships. He also gives other examples of this style. Just because something has worked for 5,000 years doesn't mean it won't be replaced by new technology.
Metal ships are better than wooden ships in pretty much every aspect. The same isn't true for Bitcoin vs gold, there's many differences between them. Bitcoin is relying on electronics, any scenario that disrupts them, like EMP, solar flare, nuclear war and other disasters, would stop Bitcoin. Bitcoin is prone to hacking - if you're not careful, it can be stolen by malware that you get by clicking on sketchy links. Gold is nearly impossible to destroy - Bitcoin is quite easy to lose if you are not using some quality steel plates or have backups in multiple places, which most people don't.
January 10, 2021, 05:33:31 AM
This should be true because Bitcoin market cap worth more than half of all existing silver market cap
January 10, 2021, 05:19:39 AM
https://www.youtube.com/watch?v=IaFVNBG9-Lk
I wish he is right but I also wonder if he is delusional.
In the above video, minutes 14:28 to 25:25 he speaks of gold being totally replaced by bitcoin as a store of value in the same way that wooden ships were replaced by steel ships. He also gives other examples of this style. Just because something has worked for 5,000 years doesn't mean it won't be replaced by new technology.
He also talks about 50 to 75% of the money going nowadays into bonds, index funds, etc., going into bitcoin in the future because, according to him, it is purchased as a store of value. He estimates that the total of the world's money currently invested in those assets but as a store of value is between $100 trillion and $250 trillion.
That calculation leaves a $15 million price per Bitcoin in today's purchasing power terms.
Bitcoin would become a cyber index of the entire world global economy on the blockchain.
I wish he is right but I also wonder if he is delusional.
In the above video, minutes 14:28 to 25:25 he speaks of gold being totally replaced by bitcoin as a store of value in the same way that wooden ships were replaced by steel ships. He also gives other examples of this style. Just because something has worked for 5,000 years doesn't mean it won't be replaced by new technology.
He also talks about 50 to 75% of the money going nowadays into bonds, index funds, etc., going into bitcoin in the future because, according to him, it is purchased as a store of value. He estimates that the total of the world's money currently invested in those assets but as a store of value is between $100 trillion and $250 trillion.
That calculation leaves a $15 million price per Bitcoin in today's purchasing power terms.
Bitcoin would become a cyber index of the entire world global economy on the blockchain.
He's delusional about the majority of the stock and bond markets flowing into Bitcoin. Those aren't stores of value; they are revenue-bearing investments. Bitcoin obviously doesn't replace the need for equity fundraising, dividends, or debt/interest.
The gold argument is stronger, but I'm skeptical it'll be a total replacement. I see them standing alongside one another as store of value assets for a long time to come.
I don't think he's necessarily delusional about $15 million per coin, but I think it's more a function of liquidity and scarcity. In the short term, blow-off tops can reach insane levels for no rational reason. In the long term, contrary to popular belief, for assets to rise in value, the value doesn't need to (at least in whole) come from somewhere else. It's all about supply and demand, which can manifest as higher prices and lower liquidity. As the inflation rate shows, assets can rise in value a lot faster than inflation, which is what purchasing power actually reflects.
Between monetary debasement (which may be reflected more so in asset prices than inflation), low liquidity, and stealing some market share from assets in the store of value and currency categories, I really think multi-million dollar valuations are possible.
January 09, 2021, 01:11:21 PM
Lol whales could become richer then Bezos and Gates then...
January 09, 2021, 12:49:26 PM
This is full wishful thinking on his side. A quick Google search shows that his company, Microstrategy, owns 70,470 bitcoins. If you multiply this by 15 million, you get the value of 1 trillion dollars. So this is precisely the value that would make his bitcoins worth 1 trillion, which he then proceeds to rationalize (i.e. try to find a rational explanation to come to that). Notice that all of these economic reasonings he come up with could have given 14, 16, 20, whatever trillion as a result, but his prediction happens to be precisely the value that makes him a trillionaire. Big coincidence no?
January 09, 2021, 11:54:19 AM
https://www.youtube.com/watch?v=IaFVNBG9-Lk
I wish he is right but I also wonder if he is delusional.
In the above video, minutes 14:28 to 25:25 he speaks of gold being totally replaced by bitcoin as a store of value in the same way that wooden ships were replaced by steel ships. He also gives other examples of this style. Just because something has worked for 5,000 years doesn't mean it won't be replaced by new technology.
He also talks about 50 to 75% of the money going nowadays into bonds, index funds, etc., going into bitcoin in the future because, according to him, it is purchased as a store of value. He estimates that the total of the world's money currently invested in those assets but as a store of value is between $100 trillion and $250 trillion.
That calculation leaves a $15 million price per Bitcoin in today's purchasing power terms.
Bitcoin would become a cyber index of the entire world global economy on the blockchain.
I wish he is right but I also wonder if he is delusional.
In the above video, minutes 14:28 to 25:25 he speaks of gold being totally replaced by bitcoin as a store of value in the same way that wooden ships were replaced by steel ships. He also gives other examples of this style. Just because something has worked for 5,000 years doesn't mean it won't be replaced by new technology.
He also talks about 50 to 75% of the money going nowadays into bonds, index funds, etc., going into bitcoin in the future because, according to him, it is purchased as a store of value. He estimates that the total of the world's money currently invested in those assets but as a store of value is between $100 trillion and $250 trillion.
That calculation leaves a $15 million price per Bitcoin in today's purchasing power terms.
Bitcoin would become a cyber index of the entire world global economy on the blockchain.
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