Bitcoin maximalist and MicroStrategy chairman and CEO Micheal Saylor is still bullish on Bitcoin despite the bearish market. When commenting on the new regulation law from 07.06 in a (n Interview with CNBC on June 8, he predicted that the price of bitcoin will be around $1 million in the future.
To back up his statement, he highlighted the new crypto bill proposed by Democratic Senator Kirsten Gillibrand and Republican Senator Cynthia Lummis to introduce the crypto-friendly rules. Saylor added that bitcoin is a “real thing that’s going to be with us.”
Related Reading | Do Knwon switches Twitter account to private after LUNA break-ins
The interviewer argued about the possibility of BTC crashing, and his company MicroStrategy, which holds nearly 130,000 BTC, could face further losses. Saylor responded that Bitcoin was unlikely to go to zero. In addition, he discussed the current volatility is largely irrelevant.
While making arguments for his belief in Bitcoin growth, he pointed out that both skeptics and deniers who speculated that BTC would crash or that governments would shut down the asset class once it wasn’t real were proven wrong. Governments are trying to regulate it instead, and the price hasn’t dropped to zero yet; He added, “If bitcoin doesn’t go to zero, it goes to a million.”
The American tech tycoon went on to explain that Bitcoin is “obviously better than gold and everything that gold wants to be”. He noted that if BTC were of the same nature as gold, it would be “only five hundred thousand USD per coin.”
Bitcoin price is currently trading above $30,000. | Source: TradingView.com BTC/USD chart
Saylor believes people are now recognizing virtual assets
Saylor emphasized that people are now changing their perspective on cryptocurrency. He mentioned the new crypto-friendly bill created by Senators Kristen Gillibrand and Cynthia Lummis and Janet Yellen’s April 7 speech at American University. In her speech, Yellen recited Bitcoin creator Satoshi Nakamoto’s vision and revealed how Bitcoin could play a crucial role in the United States.
With these facts in mind, Saylor believes people have now started to realize that BTC is here to stay with us and will expand adoption in the future.
It wasn’t the first time Saylor speculated the price of BTC at $1 million. A few weeks ago he expressed his vision of a sudden increase to the million mark.
He then added:
There is no target price. I assume we will be buying bitcoin at the local top forever. And I expect bitcoin will be in the millions. So we are very patient. We think it’s the future of money.
Related Reading | TA: Bitcoin is stuck in the key area why a major breakout is possible
Cloud-based company MicroStrategy began interacting with Bitcoin in August 2020. In fact, it began accumulating portions of its corporate balance sheet. As it continually accumulates BTCs, it currently holds around 130,000 BTC. According to the CEO’s previous statements, he had no intention of changing his ownership. Instead, he’s thinking about accumulating more BTC.
Featured image from Pixabay and chart from TradingView.com
Learn Crypto Trading, Yield Farms, Income strategies and more at CrytoAnswers
https://nov.link/cryptoanswers
Comments are closed.