1 billion people will store life savings on their phone in Bitcoin by 2026 — MicroStrategy CEO

The next five years will see the first billion people opting to store their wealth using Bitcoin simply using mobile devices, says the MicroStrategy CEO.

Bitcoin (BTC) will be the savings method of choice for 1 billion people on their phones by 2026, MicroStrategy CEO Michael Saylor predicted.

In an interview with CNBC on Feb. 23, Saylor, whose company owns in excess of 70,000 BTC, continued his public Bitcoin advocacy, calling it "the dominant digital monetary network."

Saylor: Billions will choose Bitcoin for savings
Saylor was speaking a day after United States Treasury Secretary Janet Yellen described Bitcoin as "inefficient," comments that accompanied a price dip of over 20% from all-time highs of $58,300.

For him, however, the comments were of little consequence compared with the broader Bitcoin use case quickly encroaching into more and more people's financial lives.
"The story here that's not being told is that Bitcoin is egalitarian progressive technology," he told CNBC's Squawk Box segment.Continuing, he cited Bitcoin's 12-year race to becoming a trillion-dollar asset — two to four times quicker than technology giants such as Amazon, Google and Apple.

"So, the world needs this thing, and I think you can expect that we'll have a billion people storing their value — in essence, a savings account — on a mobile device within five years, and they're going to want to use something like Bitcoin," he added.