1 Top Cryptocurrency to Buy Before It Soars 17,888%, According to Strategy's Michael Saylor

Key Points

In 2020, Michael Saylor, then the chief executive officer of the business software company Strategy (NASDAQ: MSTR) , made a bold decision. He decided to use the company's capital to begin accumulating Bitcoin (CRYPTO: BTC) , the world's most valuable cryptocurrency. At the time, the move seemed incredibly risky, and many people to this day still view the decision as risky.

But Saylor's decision paid off handsomely, and Strategy (formerly known as MicroStrategy) even began tapping the capital markets for funding to buy more Bitcoin. Today, Strategy is seen as the pioneer of the Bitcoin treasury movement, and the company's stock has blasted over 3,160% higher in the past five years. Saylor, who is now the executive chairman of Strategy, thinks the party has only just begun. He sees the price of Bitcoin rising 17,888% from current levels during the next two decades. Here's why.

Remember the number 21

Making big calls on Bitcoin is nothing new for Saylor. Last year, Saylor predicted that Bitcoin could hit $13 million per coin by the year 2045. This argument was based on two main theses.

1 Top Cryptocurrency to Buy Before It Soars 17,888%, According to Strategy's Michael Saylor

At the time of this call, Bitcoin only made up about 0.1% of all global net worth. Saylor predicted that continued adoption from institutional and retail investors could propel Bitcoin to 7% of all global net worth. Saylor also said that Bitcoin, even as its volatility declined, was capable of generating a 29% annual rate of return, which would take the token to $13 million.

However, a lot has changed since then, and in June, Saylor hiked his price target to $21 million during the next 21 years. Most of the change seems to be attributed to the shifting regulatory environment ushered in by President Donald Trump, who has been very supportive of the sector.

"Stuff that's happened in the past 11 months has been extraordinary. The White House has embraced Bitcoin . This is an extraordinary development. We didn't anticipate this," Saylor said at a Bitcoin conference in Prague earlier this year. "Although we thought we might have a pro-Bitcoin president, we didn't think we'd get a strategic Bitcoin reserve. We didn't think that the president would say America would be the Bitcoin superpower of the world. This is an amazing development."

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