Everyone buys bitcoin at a price they deserve

Speaking at the BTC Prague event, Michael Saylor said that he was initially skeptical of bitcoin. When he first learned about bitcoin in 2013, the businessman saw it as something similar to online gambling, which made him refuse to invest in BTC. Now Michael Saylor laments that he missed the opportunity to buy bitcoin when it was worth about $892 and ended up buying it for $9500.

The MicroStrategy executive has since become a strong supporter of bitcoin, calling BTC "digital gold" and an independent cryptocurrency from any centralized authority.

Despite bitcoin's significant rise in recent years, many traditional investors still express skepticism towards cryptocurrencies. Everyone gets bitcoin at the price they deserve. When bitcoin reaches $950,000, people will still be hesitant to buy, expecting BTC to drop to $700,000. They are potentially missing their chance, because if bitcoin crosses these marks, it could rise to $8 million, Michael Saylor reasoned.

Given that bitcoin is currently trading at around $66,000, reaching the $8 million mark implies a nearly 12,000% increase in value. This means that bitcoin's market capitalization should increase more than 150 times, to $168 trillion.