Billionaire Michael Saylor Explains Why Bitcoin Will Be the ‘Apex Commodity’ in New Keynote – Here’s What You Need to Know
MicroStrategy’s executive chairman Michael Saylor believes that Bitcoin (BTC) can still be 1000x from its current price of $41,500 – if given enough time.
In a keynote published to X on Monday, the billionaire explained how all major asset classes appreciate against the US dollar in perpetuity, and argued that BTC will appreciate faster than all others in the long run.
“Bitcoin is the world’s leading scarce, desirable, portable, durable, and maintainable asset,” said Saylor, adding that most investment strategies besides HODLing “don’t work.”
In my keynote at @labitconf I discuss economic wars, the power behind #Bitcoin, why $BTC is destined to be the apex commodity, technology, property, money, & ETF asset, winning & losing investment strategies, management of counterparty risk, & capital markets digital disruption. pic.twitter.com/QP0mHMTBKg
— Michael Saylor⚡️ (@saylor) December 2, 2023
On one hand, the average investor earns 2.9% returns per year and outperforms the standard 2% consumer inflation rate. On the other, almost no major asset class is capable of outperforming the “real” monetary inflation rate – or rate of M2 money supply growth, of roughly 7-8% per year in the United States.
The S&P index, for example, has done little more than remain on par with the monetary inflation rate since 2001. Bitcoin, by comparison, lacks the former’s risk of asset devaluation due to companies issuing new shares, thus making it the “apex ETF” of the future.
Bitcoin’s fixed supply of 21 million coins also makes it the “apex commodity,” according to Saylor, since competitors like wheat, lumber, and oil can be produced by humans. Gold, Bitcoin’s largest competitor in that arena, still suffers from high transportation costs and fierce
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