Microstrategy CEO Expects Bitcoin to ‘Go Into the Millions’ Despite Crypto Market Sell-Off – Markets and Prices Bitcoin News

Microstrategy’s CEO has predicted that bitcoin is “going to go into the millions” despite the recent cryptocurrency market sell-off. Noting that the cryptocurrency is the future of money, he said: “We are in it for the long term.”

According to Microstrategy, Bitcoin could be the future of money

In an interview with Yahoo Finance Live, Michael Saylor (CEO of Microstrategy), the CEO and Nasdaq-listed Software Company Microstrategy shared his views on bitcoin Thursday.

Even with the recent downturn, the executive still believes in bitcoin. Microstrategy’s price target is where he was asked if he would like to liquidate some bitcoins. The company currently holds 129,218 BTC.

“No,” the CEO replied, emphasizing, “we are in it for the long term.” He elaborated: “Our strategy is to buy bitcoin and hold the bitcoin, so there’s no price target. I expect we’ll be buying bitcoin at the local top forever.” He continued:

Bitcoin is expected to reach the billions. So, we’re very patient. We think it’s the future of money.

Commenting on cryptocurrency regulation, he noted that “There’s been a deadlock in D.C. and on Capitol Hill around stablecoin regulations and around securities token regulations.” Saylor added that “the Administration wants to move faster” but “Congress is moving slower.”

According to the Microstrategy Chief:

I think this meltdown of LUNA, UST, that’s going to accelerate the regulations of stablecoins and security tokens, which will be a good thing for the industry.

“Over time, I think as people get educated and as they get more comfortable, I think we’ll recover from this drawdown,” he concluded.

Saylor is a long-time bitcoin bull. In February, he said there’s evidence of a lot more institutional adoption. He predicted that bitcoin would become a $100 trillion asset type in November 2013.

What do you think about the comments by Microstrategy’s CEO? Comment below.

Kevin Helms

Kevin, a student of Austrian Economics and evangelist since 2011, discovered Bitcoin. His main interests are in Bitcoin security, open source systems, network effects, cryptography, and intersections between economics, cryptography, and Cryptography.