Bitcoin Bank Worth of $1 Trillion / Massmedia / Vladimir Okhotnikov

Bitcoin Bank Worth of $1 Trillion

20 October 2024

Michael Saylor spoke about MicroStrategy's aspiration to become the leading $1 trillion Bitcoin bank. It sounds like a plot from a sci-fi movie. I think it's a decades-long journey that requires a lot of work, investment, and faith in the future of cryptocurrencies.

However, Michael Saylor has repeatedly shown that he is capable of surprising the world with bold ideas.

If we imagine that this plan is implemented, MicroStrategy will become one of the most influential companies in the world. Such a financial organization will be able to bring to the market completely new products and services based on cryptocurrencies.

However, the problem here is this: the current capitalization of Bitcoin is only about $1.2 trillion. The question arises, how does Saylor plan to buy up all the available Bitcoins? It is impossible to do. Therefore, there is only one thing left: the price of Bitcoin should jump to $500-700 thousand per coin. But in conditions where the market has been treading water for several months, this seems unlikely.

For such forecasts to come true, mass adaptation of cryptocurrencies at the level of everyday life and the global economy is necessary. Without this, any ambitions for trillion-dollar capitalizations remain more a dream than a reality.