Topic: Michael Saylor predicts Bitcoin can go to $5 million? - page 2. (Read 831 times)

He deliberately mentions unrealistic numbers and it is impossible for the price of bitcoin to reach $5 million in the future, he makes jokes when the market is bearish and we need peace of mind to maintain the portfolio in the current market conditions. However, if he makes a realistic price prediction for the next 10-20 years for $500k then the potential price prediction will be achieved and he will have to keep his word in committing this disgusting act on national television, so don't take his challenge seriously, stay focused on your DCA investment strategy .

I would say a million dollars "talks" are mainly regarding the future and yes it's obvious that we are not going to see it reach neither 500k nor 1 million dollars (or obviously 5 million) any time soon, but we can discuss about it for the future.

It usually means that maybe it won't happen right now, and anyone who gives timing for when it will happen will end up wrong, but when we are talking about a situation where it's all about the profit making, then we are going to end up with something much worse. This is why it should be important to remember that we are going to end up with those prices "eventually" and that's what we are talking about in most cases. I understand that life is not simple so waiting could be hard, but we should try to.

predictions are just predictions, Michael Saylor seems to be just guessing and not very realistic. Never mind reaching $5 million now, reaching a new ATH is the most awaited thing or at least breaking the price of $100k is already new history for Bitcoin.
The numbers mentioned that are too big are unrealistic and seem to make us all laugh. But who knows what the situation with bitcoin will be when all the bitcoins have been mined, the price will certainly be higher.

not exactly.. bitcoin does actually follow some underlying economics..
ill quote myself instead of repeating myself

unless the most expensive cost of mining 1btc becomes more then $5m then the price wont even have the chance to speculate on the market that high

now to put it into perspective

imagine todays resistance is $150k.
imagine mining hashrate(cost) doubled by 2024. to $300k
imagine mining reward halves  in 2024. to $600k/btc
then imagine between 2025-2028 mining hashrate(cost) quadrupled. to $2.4m
imagine mining reward halves in 2028. to $4.8m/btc

then mining cost doubled in 2029 to $9.6m

then the market could speculate ANYWHERE between $1.4m-$9.6m/btc

but as said it all depends on if mining costs do take a 64x cost rise from todays cost to even open up the speculat range of possibility

Even if they would really be presenting any documents or whatsoever which it wont really be that still different because everything would really be remain as speculative approach on which it is really that actually free or could really be say by everyone which it doesnt matter if you are just an average joe or known people here in this market or space. We can really be able to make our own numbers on which it would really be just that
depending on how positive or being optimistic you are in towards bitcoins potential. It is really just there are really some numbers turns out to be non-realistic already. Yes, its not bad on being realistic but we know that if you are a person who do have that reputation and popularity, then whatever speculations that you would really be saying which it might really be affecting someones views and decisions specially newbie ones on which they are usually that get easily affected whenever we do see these kind of price calls and speculations which on the time that they do read up then this is the time that they would really be able to make out some conclusions that they should go all in just because they are already imaging on the profits that they could make if that prediction or price speculation did really happen.

They can make any prediction they want, but if they want to convince others, they must at least show what evidence or documents they rely on to make that statement.  but most are just spontaneous speculations, saying whatever they think without any evidence.  so these numbers are greatly exaggerated. 
You're right, we haven't even crossed $100k yet, so thinking of higher goals is wild.  five million USD per bitcoin is a really attractive number but too illusory and exaggerated beyond necessary.

yeah I have crossed that also and indeed that if that is correct then we already  have that 100k or more by this time.

while the crypto world is struggling to reach a hundred thousand value , yet here we are talking about million dollars? and not even that but 5x to be specific.

Don't know how much it can cost but for me? this is a near impossible to expect.

and I will never believe this to happen even in a lifetime.

correct , we can look for hundred thousand in our time , but even with our second generation , it will be harder to believe it will take a million a piece for bitcoin.

Totally exaggerated or something unrealistic and this is why having those kind of numbers would really be making tons of people do laugh on what this person is really that predicting. Its not really that bad on being

optimistic but on the time that you are already saying or mentioning numbers which arent that already that realistic at all then expect that there would really be tons of people who would really be laughing behind
with those price predictions. Come to think or remember into those days where McAfee did really make out some prediction having million per coin which come to think that he's been saying that it could happen anytime soon and did really even make out some claims that he would really be eating his own dick on national television.

if not, I will eat my dick on national television.
https://twitter.com/officialmcafee/status/887024683379544065?lang=en

Wondering if these fellas had the same line of words or something that they would really like to bet on. 

This seems to be one of the many reasons for Saylor to trick people just the way McAfee did in the past. It was actually a coincidence for McAfee to die or else he'd have to actually do what he said in order to keep up the value of his words.


TBH, I really don't want BTC to go that much in price because then honestly people will kill those who have crypto due to its value. Just think if you have just 1 BTC with you and you're jogging on a road, you've got your hardware wallet in your pocket, the value of BTC is $500k and someone from your nearby knows it. Just think how dangerous it can be. And yeah, you used the correct word for this industry, CRYPTO BUSINESS industry as these giants have bought BTC for cheaper (or costly when it was up), now they want people to go astray via their words/fake promises trying to prove people that their belief will serve.

There is no way we can predict future price of Bitcoin. Majority of speculations and predictions about Bitcoin price went wrong. As far as this 5 Million price prediction is concerned, I think its exaggerated figure. Right now everyone eyes are whether Bitcoin can go and surpass 100,000 $ or not. Next year halving is also a much awaited figure and will give a good hint about future price of Bitcoin.

The point is: in 2023, I have seen a lot of speculation and predictions expressed by many people, not only Michael Saylor, many other users are saying what Saylor said, What's worse is that they speculate more than $5 million on the future price of Bitcoin, some people think it's excessive and some people think there is nothing impossible that anything could happen to Bitcoin.

However, to be honest, for myself, at least I have separate speculation for Bitcoin in the future, the highest is between $100k - $200k, it seems that $5 million will take a long time to achieve, even though we never know the real crypto market and Bitcoin's next direction.

I agree with what you said. The 500,000 dollars that McAfee predicted about Bitcoin is too far; it is now 2023, and the value of BTC is currently around 26k. Then now, it seems like Michael Saylor is just repeating what Mcafee did. The only worst thing is that he seems to be more intense than Mcafee, even though Michael Saylor invested a lot in Bitcoin.

It's not that we don't want it to be 5 million dollars per Bitcoin, but of course, if we make a suggestion about the value of Bitcoin, it should be realistic, and there should be a basis for why such a prediction was made about Bitcoin. Because he will come out in the end with what Saylor said, he will be a liar, and he will come out just hyping the community in the crypto business industry.

$5,000,000 per coin is possible but it likely won’t be this decade. I think if/when we go that high it would be in 2040 or something like that. I don’t know what $5,000,000 will buy you then though, with the rate of inflation & senseless money printing devaluing the $ & ravaging our purchasing power.

A simple calculation shows that if bitcoin goes up 70% a year (on average), then it would reach 5 mil sometime before September 22, 2033 (in about 10 years, roughly).

For comparison, 70% a year is exactly what bitcoin did between September 22, 2013 and September 22, 2023, so someone can't say that we are talking "crazy" numbers here.
All needed for bitcoin to do it is to repeat the last 10 years. I think that it is reasonable, but not guaranteed, of course.

If bitcoin goes up 50% a year (on average), it would be about $1.58 mil in 10 years.
If bitcoin goes up 35% a year (on average), it would reach $533K in 10 years.

Those are more modest numbers and 35% would be a halving of the growth rate in the next decade.

Better not to make yourself that mindful about those numbers because even hitting up $1M per coin wont really be happening in our lifetime and this is why it would really be just that wise that you should really be that

sticking into those realistic prices and having those approach which it wont really be that touching up those numbers which are really that unrealistic. It would really be better that you should really be that  
setting out some goals or targets on something with those numbers which are reachable in our lifetime and always be considerate about on having those taking profit years or on the time that you would really be
deciding on your profit taking. We do hear lots of numbers and speculations in regarding about the price but we know that only the community or the market would really be the ones will really be the one that
could lead up whether those numbers are low or high.

Important thing is that you do really be able to secure out your position if ever you do see the opportunity that you are already making out some profits
and this what matter the most.

That's how it should go.

Going with the lower price before it could go with that prediction that's certainly high. But it's not possible, we've got Cathie Wood saying $1M and Saylor for $5M.

It is unknown when these numbers will be filled by bitcoin and if they're going to be accurate with these predictions. While it is music to our ears but it's a music that might not sound in rhythm for now.

Or maybe we need to wait a century to see the price of bitcoin reach $5 million?
We'll never know if we'll be alive when that $5m is reached, but I think that's a huge amount to happen in the next few decades. Bitcoin won't explode like that in my opinion, but the volatility of its value could make it more expensive over time.

Moreover, market behavior does not have to be the same all the time. Prices can rise and fall at any time for many reasons, but I wouldn't think $5m is a very realistic expectation for bitcoin in the next 5 decades.

Either we will have to wait for decades for this price to be reached or an event that shakes the world economy will have to happen in order to accelerate the time frame in which we could see that price, those are the only two scenarios which could lead us to 5 million, however it is impossible to know which will actually happen first, as even if at some point the fiat system will have to collapse I have no idea when this could occur, as the fiat system has been in trouble for a long time and it still exists.

I am eagerly waiting for btc to touch $500,000 before we talk about $5 million. Btc can't go parabolic based on its halving aspect but needs something extra, something big to even think of such targets that Michael Saylor is talking about. BlackRock may get it there (to my expected target) but we should not expect it to be timed near the halving or anytime soon because dollar is yet to get stronger and make things worse for global markets before the institutions truly understand the need of assets like bitcoin through which that problem can be solved to some extent. Looks like interest rates will increase and will make dollar stronger for more time before the bubble of dollar bursts.

Well, in the previous cycle Bitcoin got higher in value and its demand was increased due to many factors not only because of Tesla cars. I think Covid-19 pandemic played a very crucial role in increasing the demand for Bitcoin and other crypto-currencies in that cycle and there were some more factors as well. In that cycle PayPal also launched their service to allow its users to buy, hold, and sell Bitcoin and some other crypto-currencies, and other than that MicroStrategy also invested a lot of money into Bitcoin, and finally DeFi got much popularity in that cycle and it was another factor that led to wide adoption of Bitcoin. Those were some of the known factors while there were many factors that weren't available to public but they also played their role in increasing the demand for Bitcoin in previous cycle.

In the next cycle there will be also some factors that play their role to increase the adoption of Bitcoin and other crypto-currencies. We aren't yet aware of those factors but surely Bitcoin will get more attention in the coming decades and the next generation will get awareness about it in their childhood days. I believe that in next 30-50 years the price of per Bitcoin will be so high in value that none of us can imagine right now. If you consider that thing as nonsense then that's your point of view but in theory that can happen in future.