Micheal Saylor Says Current Volatility Is Irrelevant, Predicts Bitcoin At $1 Million
Maximalist Bitcoin holder and the Chairman and CEO of the MicroStrategy company, Micheal Saylor, is still bullish on Bitcoin despite the bearish market. While responding to the new legislative draft of 07 June in a interview with CNBC on June 8, he predicted that Bitcoin’s price will be around $1 million in the future.
To back up his statement, he highlighted the new crypto law proposed by Democratic Senator Kirsten Gillibrand and Republican Senator Cynthia Lummis to enact the crypto-friendly rules. Saylor added that Bitcoin is a “real thing that will be with us.”
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The interviewer debated the possibility of BTC falling, and his company MicroStrategy, which owns nearly 130,000 BTC, could face more losses. Saylor replied that Bitcoin was unlikely to fall to zero. He further discussed that current volatility is largely irrelevant.
While making arguments for his belief in Bitcoin’s growth, he pointed out that both skeptics and deniers who speculated that BTC would crash or governments would shut down the asset class once it wasn’t real were 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 US tech tycoon further stated that Bitcoin is “clearly better than gold and everything gold wants to be.” He noted that if the BTC had the same nature as gold, it would be “only five hundred thousand USD per coin”.
Bitcoin price is currently trading above $30,000. † Source: BTC/USD chart of TradingView.com
Saylor believes people are now recognizing virtual assets
Saylor stressed that people are now changing their view of 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 the vision of Bitcoin creator Satoshi Nakamoto and revealed how Bitcoin could play a vital role in the United States.
Given these facts, Saylor believes that people are now beginning to realize that BTC is with us and will expand its future adoption.
It was not the first time Saylor had speculated the price of BTC at $1 million. A few weeks ago he expressed his vision of skyrocketing to the million marks.
He then added:
There is no price target. I expect that we will buy bitcoin at the local top forever. And I expect Bitcoin to go into the millions. So we are very patient. We think it’s the future of money.
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The cloud-based company MicroStrategy began interacting with Bitcoin in August 2020. In fact, sharing began to build up its corporate balance sheet. Since it is constantly accumulating BTCs, it is currently owns about 130,000 BTC. According to the CEO’s previous statements, he had no intention of changing his assets. Instead, he is thinking about collecting more BTC.
Featured image from Pixabay and chart from TradingView.com