Despite the current market pullback, MicroStrategy co-founder and president Michael Saylor remains optimistic.

The crypto bull not only believes that Bitcoin will regain its past glory, but also sees that the flagship cryptocurrency has a lot of potential to grow beyond its current trading level.

Saylor believes that Bitcoin is 100 times better than gold and sees it as the next big “store of value asset”. The executive said that during the Money Festival organized by MarketWatch on Wednesday, but the event was first reported on Saturday, September 24. “I think the next logical stop for Bitcoin is to replace gold as a non-sovereign store of value asset, and gold is a $10 trillion asset as we speak. Bitcoin is digital gold, it is 100 times better than gold,” Saylor said.

During the festival’s Best New Ideas segment, Saylor didn’t hold back when he predicted that the price of cryptocurrency could hit $500,000 in the next decade. “It cannot be inflated. The half-life of money in Bitcoin is forever. You can move it across billions of computers at the speed of light. So if Bitcoin goes to the value of gold, it goes to $500,000 per coin, and I think that happens in this decade,” the executive stated.

At the time of writing, Bitcoin was trading at $18,876.55, down 0.55% in the last 24 hours, according to data from CoinMarketCap. Considering that Bitcoin is trading at this level now, Saylor’s projected $500,000 implies that the cryptocurrency has over 2,500% upside potential.

Saylor is putting his money where his mouth is. He told MarketWatch that he personally owns 17,732 Bitcoins which he has had for “around two years” when he bought them at around $9,500 per coin.

Bitcoin is separate from cryptocurrency

Earlier this year, Fidelity Investment, a Boston-based investment management firm, issued a report confirming Saylor’s sentiments. In February, the investment manager acknowledged that although the world is awash in cash and various cryptocurrencies, Bitcoin is special in that it has the potential to deliver significant price gains.

Fidelity said Bitcoin is a scarce “monetary commodity,” superior in many ways to other cryptocurrencies, gold, and even government-issued money like the dollar. The investment manager predicted that Bitcoin would be much higher in the next five to 10 years.

In early August, Saylor stepped down as CEO of MicroStrategy. He is now the CEO of the software company and is solely focused on Bitcoin.

MicroStrategy, a publicly traded software company, is the largest corporate holder of Bitcoin, with more than 129,000 BTC on its balance sheet. Just a month after its popular CEO Michael Saylor resigned, the company bought 301 Bitcoins for around $6 million and now has almost 130,000 Bitcoins in its coffers.

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