As a reminder, it’s not the first time that remarks about the prospect of estimating Bitcoin’s price in the millions of dollars have been made. For example, the day before, analysts at investment firm VanEck said that BTC could grow as high as $4.8 million per coin. However, for that to happen, the cryptocurrency would have to become a global reserve asset, which means that it would force entire nations to convert their assets into coins.

What will happen to the price of Bitcoin

Wood and Saylor believe that regulators are gradually leaning towards Bitcoin. Here’s Wood’s quote on this, published by news outlet CryptoPotato.

I see a radicalisation of politics around Bitcoin. It has already become a separate issue that is being actively voted on, in a bipartisan way.

In other words, cryptocurrencies are playing an increasing role in various spheres of human activity. And this is indeed the case: while in the early years of coins, Bitcoin was perceived solely as a tool of drug dealers because of the Silk Road story, now world-famous politicians are openly investing in crypto and publicly talking about their belief in digital assets.

Ark Invest CEO Katie Wood

Just a year ago, she says, Treasury Secretary Janet Yellen spoke mostly negatively about Bitcoin, citing “money laundering, crime, environmental damage” and so on. Since then, Yellen has changed her viewpoint quite a bit: most recently, she admitted that the crypto market can still bring useful innovations to the world.

Michael Saylor, on the other hand, is positive about President Joe Biden’s recent statement on cryptocurrencies. Still, Biden then instructed all federal agencies to explore the potential of digital assets, which Saylor called a “green light” for Bitcoin. Here’s his quote.

Bitcoin has been embraced. The Biden administration has given the green light to Bitcoin. Politicians are now competing to see who supports the cryptocurrency more.

MicroStrategy head Michael Sailor

Saylor believes that the announcement is a strong push for the adoption of BTC, as the news could prove to be just the incentive that institutional investors need to connect with the asset class. In addition, Wood cited recent remarks by Securities and Exchange Commission (SEC) head Gary Gensler, in which he argued that Bitcoin is not a security. This is important because it reduces the risk of stricter regulation.

Well, and the “highlight” is the price forecast. It was also voiced by Wood, with the conditions necessary for Bitcoin to rise to the million-dollar mark.

We don’t need much for Bitcoin to grow. All that is needed is for 2.5 per cent of all assets to be placed in the cryptocurrency.

Cryptocurrency investor

As a reminder, Michael Saylor’s company called MicroStrategy continues to be the largest Bitcoin investor among public companies. As of today, the giant has 129,218 BTCs in which it has invested $3.97 billion. Accordingly, the average purchase price of each bitcoin equals $30,700 – and that’s considerably cheaper than the current rate, even taking into account the current market drawdown.

In total, MicroStrategy has 0.615 per cent of all bitcoins in circulation.

Volume of Bitcoin savings of public companies


We believe that Bitcoin and other cryptocurrencies do have enormous growth potential because of their characteristics. In particular, in the case of BTC, the limited supply of coins plays a role, as well as a fixed inflation rate, which in addition decreases approximately every four years. Now we just have to wait for the potential of digital assets to be appreciated by many governments.


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