MicroStrategy CEO says bitcoin will one day have $100 trillion market value even as price dives

MicroStrategy CEO says bitcoin will one day have $100 trillion market value even as price dives

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. Bitcoin is going to flip gold, and it's going to subsume the entire gold market cap," contended Saylor, who has become one of the most prominent evangelists for bitcoin since his enterprise software company began buying it in August.

"Then it's going to subsume negative yielding sovereign