Michael Saylor, co-founder of Strategy (formerly MicroStrategy), made a bold prediction on CNBC’s Squawk Box on Thursday, stating that Bitcoin will significantly outperform the S&P 500 over the long term. “We think Bitcoin’s going up more than the S&P index over time,” Saylor said, forecasting an average annual return of 30% for the cryptocurrency—triple the roughly 10% historical average of the S&P 500.
Saylor anchored his outlook on a model projecting a 29% yearly return sustained over 19 years, which would push Bitcoin to $13 million by 2045. He described the current market as a “spring phase,” supported by a firm floor at $60,000 and improving macro conditions. Despite Bitcoin being down 12% year-to-date while the S&P 500 has gained 8%, Saylor dismissed short-term volatility, emphasizing long-term fundamentals.
The Strategy chairman also highlighted regulatory catalysts, including the CLARITY Act, which recently cleared the U.S. Senate Banking Committee with bipartisan support. He argued that SEC guidance enabling tokenized securities could unlock a “free market in credit formation and yield” and accelerate institutional adoption. “I think the passage of the CLARITY Act will be a big deal,” he said.
Saylor disclosed that Strategy continues accumulating Bitcoin aggressively, holding roughly $65 billion worth of BTC, and claimed the company’s credit products could absorb all newly mined supply indefinitely. The firm’s “digital credit” offerings use preferred stock structures to generate yields while preserving Bitcoin upside. “If you’re a crypto believer and you have working capital, you want to buy digital credit because you get paid four times the money market after tax,” Saylor explained.
Reiterating his long-held thesis, Saylor expects Bitcoin to eventually surpass gold in market value by 2035, pulling capital from traditional assets. He sees growing institutional participation, tokenization, and regulatory clarity as permanent drivers for Bitcoin’s integration into global finance.
