Top Cryptocurrency to Buy Before It Soars: Michael Saylor

Michael Saylor is among the few individuals who can assert that they are more enthusiastic about Bitcoin (BTC 0.07%), CEO of MicroStrategy (MSTR 1.25%), has evolved into a Bitcoin evangelist

In the past four years, his organization has implemented a strategy that involves the replacement of all its financial reserves with Bitcoin, and in certain cases, the acquisition of additional Bitcoin through debt. Currently, MicroStrategy possesses approximately 1% of the total Bitcoin supply.

Although it may appear absurd to some, Saylor’s decision to pursue the Bitcoin strategy could potentially generate billions for him and his business, particularly if Bitcoin reaches his most recent prediction of $8 million per coin, which represents a 12,000% increase from its current price. Saylor believes that the global cryptocurrency market can maintain its historic tempo in the following ways and for the following reasons.

Saylor calls his shot.
Michael Saylor was one of the keynote presenters at the largest Bitcoin conference in Europe, which was held in Prague over the weekend. Titled “21 Rules of HODLing,” Saylor’s speech elaborated on the do’s and don’ts of investing in Bitcoin, some of the lessons he has learned, and a little speculation.

He addressed a number of topics, but the most compelling one was the simplicity and function of Bitcoin (and the reason he believes it has the potential to reach $8 million per coin).

In his estimation, Bitcoin is the foremost asset as a secure haven. Bitcoin is immune to the manipulation that has become so prevalent in the current financial system due to its decentralized and virtually impenetrable network.

In other words, holders can be assured that their hard-earned money, secured in Bitcoin, will be available when needed. Additionally, they are likely to appreciate as time progresses. This is because the number of Bitcoins created will be limited to 21 million, and the rate at which they are introduced to the market is decreasing due to the halving.

Saylor clarified that the inner workings of Bitcoin may be abstract. Still, at its core, it is simple, reliable, and constant, a quality that the current economic and financial landscape cannot claim. Even though terms such as “proof of work” and “decentralized networks” may sound like a foreign language to some investors, Bitcoin’s fundamental nature is straightforward and consistent.

In the present day, the regulators and agencies that supervise economies and markets are responsible for pushing, pulling, and manipulating them, according to Saylor. He thinks this will inevitably harm those compelled to participate in this unjust game, which is susceptible to inflation, a perpetual expansion of debt, and the constant modification of policies.

However, Bitcoin provides an alternative. Holders can be confident that the number of coins will never exceed 21 million, that halving will occur approximately every four years, and that no changes will be made regardless of the president, chairman, or director of a particular agency. And Saylor thinks the global community is beginning to acknowledge this paradigm shift.

Bitcoin will benefit as more individuals come to understand that the current financial system is akin to a faulty ship that does not prioritize the average person’s interests. Bitcoin is the antithesis of fiat currencies and the ultimate cryptocurrency.

Expanding the view

Saylor thinks that Bitcoin’s resilience and simplicity will establish it as the premier asset despite additional factors and catalysts that may contribute to its growth, such as financial censorship, geopolitical instability, and increased institutional investor interest. This is why it is on course to reach $8 million per coin.

The CEO presumably does not care, even though he did not specify a timeline. In an interview with Fox News a few months ago, he stated, “I will continue to purchase at the top.” This encapsulates his conviction that Bitcoin’s distinctive attributes will enable it to experience perpetual price appreciation as the current financial system continues to undergo destruction.

A few considerations to bear in mind

Saylor’s projection is neither novel nor exceptional. There have been thousands of predictions regarding the cryptocurrency’s future growth since its inception in 2009.

Although it is impossible to predict whether Bitcoin will be able to attain $8 million per coin, two things are certain. One, Bitcoin has defied virtually every expectation during its decade-and-a-half existence. Additionally, Bitcoin is still in the early stages of its adoption trajectory.

Although it has made significant progress and has millions of users worldwide, it is on the brink of becoming as transformative as the Internet. It will likely eventually reach a comparable user base. There is no doubt that the demand for Bitcoin’s 21 million coins will continue to increase in the years ahead despite the possibility that Saylor’s optimistic projection will not be realized.

Is it advisable to allocate $1,000 to Bitcoin at this time?
Before purchasing Bitcoin stock, it is important to consider the following:

The Motley Fool Stock Advisor analyst team has recently determined the ten most promising securities for investors to acquire now. Bitcoin was not included in this list. The ten securities that were selected for inclusion have the potential to generate substantial returns in the years ahead.

Consider the date on which Nvidia published this list: April 15, 2005. If you had invested $1,000 at our recommendation, you would have an estimated $775,568.

It is important to acknowledge that Stock Advisor’s total average return is 757%, which is a market-crushing outperformance compared to the S&P 500’s 160% figure. Do not overlook the most recent top 10 list.