“Scarcity Will Make Bitcoin A 6 Million Dollar Worth Single Unit”, Says Michael Saylor

In the words of Michael Saylor, nothing can stop Bitcoin is becoming the most valuable asset in the times to come. He is positive that a day will come when a million-dollar wouldn’t be enough to buy a single piece of Bitcoin. In fact, the purchase would have to pay at least US$ 6 Million to earn the rarest and most valuable possession on the earth.

When Bitcoin was invented, its supply was capped at 21 million meaning thereby that only 21 million coins will ever be produced. As of today, approximately 18.74 million Bitcoins have made their way into the crypto market since 2009. Only 2.25 Million Bitcoins are remaining to be mined. This meant that in the span of 11 years, more than 90% of Bitcoins have been processed.

But as time is going by, Bitcoin price is increasing day by day. Resultantly, the revolutionary cryptocurrency’s buying power is also decreasing. When Bitcoin came into the market initially, it was sold for a few cents. Now Bitcoin’s value is hovering over US$ 51,000. Considering Bitcoin’s growth from the day it came into being to date, it can be assumed that in the future Bitcoin will become a rare asset class. When a thing becomes rare then it becomes priceless and this is going to happen to Bitcoin which the CEO of Microstrategy believes very firmly.

Michael Saylor has been running Microstrategy’s affairs and it was his belief towards Bitcoin that his company is the biggest Bitcoin investor. Microstrategy alone owns more than 100,000 Bitcoins and Saylor also owns Bitcoins personally.

On 23rd December 2021, Saylor informed the public that his personal Bitcoin holding has 17,732 BTCs which is worth around US$ 858 Million roughly. He further told that since October 2021, he hadn’t bought any Bitcoins but never sold a single BTC ever since he’s buying.

He stated furthermore that time is not valuing Bitcoin at its real price. He believes that the price of Bitcoin should be at the level of US$ 600,000. He even said that because of Bitcoin’s scarcity, buying a single piece of Bitcoin would not be anybody’s game. Instead, Bitcoin will be sold for more than US$ 6 Million and the purchaser can’t even have the right to bargain the price.

If not today, but in the future ahead, the likelihood of Bitcoin’s base price exceeding US$ 600K or US$ 6 Million cannot be denied. Bitcoin hasn’t come a very long way but still, it has been able to increase the value from zero to US$ 69,000. The majority supply cap of Bitcoin has already been retained by the investors. Only a few million Bitcoins are left to be acquired which ultimately depends upon the investors’ buying power.