The vocal Bitcoin advocate and MicroStrategy’s chairman and co-founder Michael Saylor has sparked excitement within the crypto community by launching a poll asking, ‘How fast do you expect BTC to appreciate annually in USD over the next ten years?’. The results showed a strong bullish sentiment among the respondents, indicating a significant boom in the price of Bitcoin. Saylor shared an X post with the crypto community.
Majority Believe In 40% Annual Appreciation For BTC
According to the poll results, 22.4% of the respondents predict a steady rise of 10-19% annually. 18% of them were even more bullish as they went with the second option predicting a surge of 20-29% annually. 10.8% of the respondents went with option three anticipating a 30-39% increase each year. What was even more impressive and shocking was the majority of them, i.e., 48.8% of the respondents foresee a staggering 40% annual appreciation over the next ten years.
The sentiment comes at a time when Bitcoin is experiencing a significant downturn dropping to nearly $60,000 in contrast to the hopeful predictions. As of press time, Bitcoin traded at $61,076, marking a more than one-month low and a roughly 6% drop. The crypto market has witnessed its second-worst weekly fall in 2024 with lower demands for Bitcoin ETFs and monetary public concerns.
Expectations For Bitcoin
The Bitcoin ETFs also have recently witnessed substantial outflows as a huge outflow of $545 million was seen in the last week. While Bitcoin reached an all-time high of $73,798 in mid-March, it is behind traditional investments like equities, bonds, and gold in this quarter. As the crypto community is sailing through rough waters in the short term, Saylor’s poll reflects Bitcoin’s growth expectations for the next 10 years.
Notably, Peter Schiff has predicted Bitcoin price to continue falling over the next couple of years as he quoted previously that ‘you can keep looking at that chart for the next several years while the price of Bitcoin continues to fall and the price of gold continues to rise’.
