Michael Saylor, the co-founder and chief executive of MicroStrategy, shares his vision for Bitcoin over the next eight years. In a recent interview with Cory Klipptsenthe founder and CEO of Swan Bitcoin, Saylor says he expects Bitcoin to be a global store of value by the year 2031, among other things.
Institutional Adoption
According to Saylor, an important condition for Bitcoin to achieve the status of a global store of value is institutional adoption. It has to go up to take Bitcoin to that level. As evidence that this is happening slowly but surely, Saylor cites names like BlackRock and Fidelity. These are two giants of the wealth management industry that are slowly starting to embrace Bitcoin, despite actually moving away from Bitcoin in the past.
Furthermore, in the interview with Klippsten, Saylor points to the explosion of the Lightning Network. The Lightning Network is of course the second layer on Bitcoin that makes it possible to make lightning fast and extremely cheap transactions.
His company MicroStrategy also plans to build applications on the Lightning Network that will eventually serve millions of users. According to Saylor, it is only a matter of time before applications based on the Lightning Network generate a huge demand for Bitcoin itself.
Macroeconomic headwind
Saylor also acknowledges in the interview that Bitcoin had to deal with some tough macroeconomic headwinds over the past year. Consider, for example, the sky-high inflation and, in response, the interest rate hikes of central banks. However, there will come a time when central banks will have to reverse their policies and that is when Bitcoin will show its true value, says Saylor.
Towards the end of the interview, he also mentions that, in his opinion, there are no other interesting digital assets besides Bitcoin. “Bitcoin is the only digital commodity. It is the only crypto asset and there is no number two in this industry,” stated Saylor.