If you stuck with crypto in 2024, your decision paid off handsomely. President-elect Donald Trump's victory in early November sent the entire sector surging. Trump has promised a friendlier regulatory environment toward crypto and even growth policies that will make the U.S. "the crypto capital of the world."

Few companies or people have benefited more from this than Michael Saylor, the founder of MicroStrategy (NASDAQ: MSTR), which made quite the pivot in 2020 and began buying as much Bitcoin (CRYPTO: BTC) as it could. Bitcoin held up well in 2024 but took off after Trump's election win, even surpassing $107,000 at one point. Saylor, a perma-Bitcoin bull, thinks the rally is just getting started. Here's why.

Saylor and MicroStrategy have faced plenty of cynicism over the years. But Saylor has not wavered from his conviction in Bitcoin, and he seems to be a true believer in the growth prospects of the world's largest cryptocurrency.

In November, Saylor publicly said that he sees Bitcoin reaching $13 million by the year 2045, implying a 12,630% upside from current levels (as of Jan. 6). His reasoning is two-fold. First, Saylor thinks Bitcoin can deliver annual returns of 29% for the next roughly 21 years, which is how he arrived at his $13 million price target. That belief is based on the fact that Bitcoin has been delivering annual returns of 60%, which will decelerate as the token gets larger and less volatile over time.

Saylor also previously said that Bitcoin will consume more of the world's capital as adoption grows. Bitcoin currently makes up roughly 10 or 20 basis points of the world's capital, and Saylor thinks that figure can rise all the way to 7%. Amidst Bitcoin's extraordinary run, MicroStrategy has purchased tons of Bitcoin at levels as high as $106,000, showing that the company is not planning to take any chips off the table.

MicroStrategy is the largest public holder of Bitcoin and owns more than 1% of outstanding tokens. Furthermore, MicroStrategy has announced plans to raise $42 billion of capital through debt and equity over the next three years to go out and buy even more Bitcoin.

It's hard to predict the future, especially in the near term, but I don't think we've seen the last leg of this current crypto rally just yet. Trump has appointed or nominated several crypto proponents to take key roles in his staff and administration, and they have the power to recommend and even pass rules and laws that could make the environment much more appealing for crypto. This could be through more crypto spot exchange-traded funds and friendlier accounting rules that make institutional adoption of crypto easier.