Michael Saylors Survey Uncovers Ambitious Forecasts for Bitcoins DecadeLong Expansion
Michael Saylor, the vocal advocate for Bitcoin and chairman of MicroStrategy, has generated excitement among the cryptocurrency community with a recent poll. Saylor asked, “How fast do you expect BTC to appreciate annually in USD over the next ten years?” The results of the poll revealed a strong bullish sentiment, suggesting a significant surge in the price of Bitcoin. Saylor shared the poll results with the crypto community.
The majority of respondents, a staggering 48.8%, predicted a whopping 40% annual appreciation for Bitcoin over the next decade. Additionally, 22.4% of respondents expected a steady rise of 10-19% annually, while 18% were even more optimistic, anticipating a surge of 20-29% each year. Option three, which predicted a 30-39% increase annually, garnered 10.8% of the respondents.
These positive sentiments come at a time when Bitcoin is experiencing a significant downturn, dropping to nearly $60,000. This decline contradicts the hopeful predictions shared in the poll. Currently, Bitcoin is trading at $61,076, its lowest point in over a month, representing a roughly 6% drop. The crypto market has also witnessed its second-worst weekly fall in 2024, with lower demands for Bitcoin ETFs and concerns from the general public.
Bitcoin ETFs have recently experienced substantial outflows, with $545 million being withdrawn in the last week alone. Despite reaching an all-time high of $73,798 in mid-March, Bitcoin has fallen behind traditional investments like equities, bonds, and gold in this quarter. While the short-term outlook may be challenging for the crypto community, Saylor’s poll reflects the growth expectations for Bitcoin over the next ten years.
It is worth noting that Peter Schiff, a well-known critic of Bitcoin, predicts that its price will continue to decline over the next few years. He has previously stated, “you can keep looking at that chart for the next several years while the price of Bitcoin continues to fall and the price of gold continues to rise.”
Tags: Bitcoin