Michael Saylor Predicts $100K Bitcoin by 2024, $13M Long-Term, and Detroit Embraces Crypto for Taxes

Bitcoin Price to Skyrocket, Says Michael Saylor

Michael Saylor, one of the most loud-mouthed voices in the crypto space, believes Bitcoin will reach $100,000 by the end of 2024. But that's not all: over the next two decades, he sees Bitcoin shooting up to as much as $13 million. In an interview to CNBC, Saylor projected that Bitcoin would grow from 0.1% to 7% of the world's capital as institutions increasingly begin to adopt the asset.

Saylor also went ahead to note that Bitcoin would, at one point, trade higher in volume than the S&P 500, buoyed by its open, global, and decentralized nature. With such bold predictions, the crypto market is abuzz, waiting to see if this trajectory plays out.

 

Detroit Joins the Crypto Revolution

Just at the turn of major crypto adoption, Detroit's city administration announced that its residents would be able to pay their taxes and other city fees in cryptocurrency via online payment giant PayPal. This would, otherwise, make Detroit the largest US city offering an option to pay taxes starting mid-2025.

Detroit now joins Colorado, Utah, and Louisiana, each of which began their efforts to accept crypto in the public sector. On his part, City Treasurer Nikhil Patel has pointed out that such a move represents another step in a broader effort to modernize how one pays the city.

It is in this context that, with crypto-friendly policies gaining significant steam, more so after the recent pro-crypto stance of Donald Trump in his presidential campaign, Detroit's announcement is yet another indication of digital currencies finding wider acceptance in mainstream governance.

 

Conclusion

From explosive price forecasts for Bitcoin to major US cities adopting crypto, the momentum in the blockchain space is undeniable. As both institutions and governments explore the benefits of digital assets, 2024 and beyond could mark a transformative era for the crypto industry.