Microstrategy CEO Discusses Bitcoin Becoming $100 Trillion Asset Class — Says BTC Will Grow 100X – Markets and Prices Bitcoin News

Microstrategy CEO says bitcoin will become a $100 trillion asset and that it will expand 100X over where it stands today. The cryptocurrency was proving to be a better store of value than gold and he doesn’t worry about regulation. “I’m not at all troubled with the regulations that’s going on right now.”

‘Bitcoin Is Winning, Gold Is Losing’ as Store of Value

Microstrategy CEO Michael Saylor discussed the future of bitcoin during a Friday interview with CNBC. He discussed the institutional adoption of bitcoin, crypto regulation, market volatility, gold versus bitcoin, and BTC as the world’s dominant digital asset and safe-haven investment.

His company holds currently 114 042 BTC. When asked if he would like to continue stacking bitcoin at current prices or wait for a pullback, he replied: “We are going to keep stacking forever.” He replied: “We are going to keep stacking forever.”

On the topic of bitcoin vs. gold, Saylor was asked whether he thinks “bitcoin has replaced, or will replace, or is in the process of replacing gold as the store of value for most investors.” Noting the advantages of bitcoin over gold, such as the ease of transfer the low storage cost, he said:

It’s pretty clear that bitcoin is winning, gold is losing … and it’s going to continue … It’s pretty clear digital gold is going to replace gold this decade.

Regarding regulation, including the controversial crypto provision in the $1 trillion infrastructure bill, Saylor said, “I’m not at all troubled with the regulations that’s going on right now.”

He explained, “The safe haven for institutions is to use bitcoin as a store of value,” emphasizing that “Bitcoin is the only ethical, technical, and legal safe haven in the entire crypto ecosystem.”

The pro-bitcoin Microstrategy boss noted that the crypto regulation that is being discussed in Washington will “have an impact on security tokens, defi [decentralized finance] exchanges, crypto exchanges, all the other use cases of crypto that are not bitcoin.”

‘Unstoppable’ — Bitcoin to Become $100 Trillion Asset Class, a 100X Increase

Saylor was also asked about his realistic bitcoin price targets and whether $1 million is a reasonable amount of Bitcoin. Saylor replied, “If bitcoin doubles each year, then”

By the end, it will have turned gold. Next, it will flip some bonds, some monetary indexes and a few equity shares before emerging as an $100 trillion asset class. It is 100X what it is now.

He continued: “When we get there, it will be 5% to 7% of the worldwide economy. The U.S. dollars will most likely replace 150 currencies. Possibly there will be only 2 or 3 remaining. It is possible that there will be only the CNY, dollar and the euro. All other currencies will likely disappear. And then bitcoin will be the world’s monetary index. If you simply want to keep your money, and you don’t want to express a credit sentiment, or an equity sentiment, or some property or real estate sentiment.”

Saylor was also asked by reporters how the countries would respond to this scenario. Was it unstoppable, or can governments get there? He affirmed:

As a digital asset, I believe bitcoin cannot be stopped.

He explained that there would be three kinds of countries. The communist countries, such as North Korea, “will not give you property rights” and “will not let you own anything,” he described, adding that “They will probably ban it.”

This second group includes countries that have weak currencies. They “will have capital controls. They will let you own it but they don’t want you to exchange it or trade it,” Saylor noted. He then pointed out: “It’s not illegal to own bitcoin in China. They just don’t want you to move billions of dollars out of their economy.”

This third group includes western countries with strong currencies like the U.S. dollars. “Of course, it’s going to be deemed property,” Saylor said. “You will pay capital gains tax when you sell it.”

In this story, tags
bitcoin 100x. bitcoin Asset Class, bitcoin Flipping Gold, Bitcoin Institutions, Bitcoin Price Regulation, Bitcoin Replacing Gold, Bitcoin Store of Value, Bitcoin Trillion, Regulation, and Regulators.

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