Demand for Bitcoin Could Increase 10-Fold in 12 Months, Says Michael Saylor.

Difference Between Web 1.0, 2.0, and 3.0

With the Bitcoin halving just months away, MicroStrategy co-founder and Bitcoin bull Michael Saylor believes that demand for BTC could expand by as much as 10X by the end of 2024.

At the 2023 Australia Crypto Convention, Saylor was asked to give his outlook for Bitcoin and its ecosystem over the next four to five years. He pointed out that Bitcoin has gone from being seen as an “offshore unregulated asset” to an “institutionalized mainstream app” between 2020 and 2024.

Saylor believes that BTC will become a “adolescent mainstream asset by the end of 2024” due to the supply and demand dynamics that will soon come into play. He also highlighted the differences between Web 1.0, 2.0, and 3.0, explaining how Facebook AI, Meta AI, and Tech AI have all played a role in the evolution of the internet.

Bitcoin Supply and Demand

Michael Saylor, CEO of MicroStrategy, recently discussed the impact of halving Bitcoin’s supply from 1 billion to 500 million per month. He noted that this could cause a significant shift in the supply and demand balance of the cryptocurrency, with organic demand standing at around $15 billion and organic supply at $12 billion. He believes that this could result in an upward adjustment of the price.

Saylor also predicted that the next 12 months will be Bitcoin’s “coming out party” as it moves from being a college asset into the mainstream. He expects that by 2024 to 2028, Bitcoin adoption will spread across the tech industry and mega banks, with both sectors integrating it into their products and services. Companies such as Apple and Meta (Facebook) may also be competing to acquire BTC to eventually sell for large profits.

Difference Between Web 1.0, 2.0, 3.0 and 4.0

“The other check will be when the big mega banks or Bitcoin custodians such as JP Morgan, Morgan Stanley, Goldman Sachs, Bank of America, and Deutsche Bank start making loans, giving mortgages, customising, buying and selling it. That’ll be the second check,” he added.

Looking even further into the future, at around 25 years, Saylor outlined some predictions for the future of Bitcoin, as he emphasized that BTC will outperform any other high-quality asset.

“When it hits that terminal growth rate, maybe 20 years out, maybe 25 years, or it’ll be growing twice as fast or compounding twice as fast as the S&P 500 Index, or any other diversified high quality portfolio of assets you could buy,” he said, adding:

MicroStrategy currently holds around 158,400 BTC, and the firm was up around $900 million on its investment as of Nov. 2.

When it comes to web development, there is a difference between web 1.0, 2.0, 3.0 and 4.0. Web 1.0 is the earliest form of the internet, characterized by static webpages and limited user interactivity. Web 2.0 is the second generation of the web, which is characterized by dynamic webpages, user interactivity, and the ability to create and share content. Web 3.0 is the third generation of the web, which is characterized by artificial intelligence (AI) and machine learning (ML) technologies, and the ability to personalize user experience. Finally, Web 4.0 is the fourth generation of the web, which is characterized by meta AI and the ability to integrate different technologies.