Micheal Saylor (Maximumist Bitcoin holder) is still bullish about the Bitcoin, despite the bearish stock market. Commenting on the A new regulation bill was introduced on June 7.An article interview with CNBC on June 08, he predicted Bitcoin’s price to be around $1 million in the future.
He backed his claim by highlighting the proposed crypto bill, which was introduced by Senator Kirsten Gillibrand (Democratic) and Senator Cynthia Lummis (Republican), to create crypto-friendly regulations. Saylor added that Bitcoin is a “real thing that is going to be with us.”
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Interviewer raised concerns about Bitcoin’s potential collapse and suggested that MicroStrategy (which holds nearly 130,000 BTC) could suffer further losses. Saylor stated that Bitcoin wouldn’t likely fall to zero. He also said that current volatility was largely insignificant.
Although he supported Bitcoin’s growth, he also pointed out the fact that Bitcoin deniers and skeptics who believed it would crash, or would be shut down by governments soon, have been proven wrong. Governments instead seek to regulate it, and the price has not dropped to zero yet; he added, “If Bitcoin is not going to zero, then it’s going to a million.”
American tech tycoon further stated that Bitcoin is “obviously better than gold and everything that 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.”
Saylor says people are now recognizing virtual assets
Saylor noted that many people have changed their views on crypto. He mentioned the new crypto-friendly bill, created by senators Kristen Gillibrand and Cynthia Lummis, and Janet Yellen’s speech on April 07 at American University. Yellen’s speech outlined the vision of Satoshi Nakamoto, the creator of Bitcoin, and how Bitcoin can play a critical role in America.
Saylor feels that this is a good sign that BTC adoption has grown.
It was not the first time Saylor speculated BTC’s price at $1 million. He had expressed his desire for it to skyrocket past the one million mark a few weeks earlier.
He said:
There’s no price target. I expect we’ll be buying bitcoin at the local top forever. Bitcoin could easily reach millions. So we’re very patient. We think it’s the future of money.
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MicroStrategy, which is a cloud-based firm, started to interact with Bitcoin in August 2020. It began to accumulate a portion of its corporate balance sheets. It currently has around 130,000 BTC, thanks to its constant accumulation of BTCs. According to the CEO’s statements, he has no plans to alter its holdings. Instead, he is focused on accumulating more BTC.
Featured image by Pixabay, chart from TradingView.com