MicroStrategy CEO Michael Saylor told CNBC on Tuesday he believes bitcoin will continue appreciating in value to the point where the cryptocurrency becomes a "stabilizing influence" for the entire global financial system. He predicted, in a bold call, that bitcoin's market value would be worth $100 trillion one day.
Saylor's comments on "Squawk Box" came as the price of bitcoin fell more than 10% Tuesday, dipping below $50,000 per unit. The move lower took the market value of the world's largest cryptocurrency back under $1 trillion, just a few days after the volatile digital asset eclipsed that level for the first time.
However, Bitcoin was still up 60% since the start of the year and up more than 360% in the last 12 months.
"There's a $500 trillion monetary planet and the outer layer is currency, then you've got stocks, bonds, real estate. There's $10 trillion worth of gold in there, $1 trillion of bitcoin in there.
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