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Despite the Bear Market, Michael Saylor Explains Why Bitcoin Is Going to $1M

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One of Bitcoin’s biggest proponents, Michael Saylor, reiterated his view that the digital asset is a better financial instrument than gold. Contrary to the ongoing crypto winter and the many critics who suggest that the BTC price will drop to zero, he expects the asset to soar to $1,000,000.

“Bitcoin, whether you like it or not, is unique”

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It’s no secret that MicroStrategy’s co-founder and CEO, Michael Saylor, is one of the biggest supporters of the mainstream cryptocurrency. In recent years, he has emphasized its virtues, including its ability to act as a hedge against inflation. Even though BTC is currently trading far from its all-time highs from last year, Sailor remains optimistic.

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AT interview for CNBC, he stated that his short-term volatility is not a concern as it will prevail in the long term. In his opinion, the crypto space is divided into “deniers”, “skeptics” and supporters of bitcoins. The first two groups insist that the asset is either fake or the government will ban it sooner or later.

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According to Saylor, they are both wrong. He added that instead of leaving or dropping to zero, BTC will rise to $1 million.

The American believes that bitcoin is “unique” because there is no network in the world with the same level of acceptance or level of security.


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“Obviously it’s better than gold and everything that gold wants to be,” he argued.

In addition, the CEO touched on a bill to regulate cryptocurrencies, which Senators Cynthia Lummis and Kirsten Gillibrand proposed earlier this week. According to him, the legislation recognizes the future potential of bitcoin. If implemented, this will prove to the general public that digital assets are “the real thing that will be with us.”

Michael Saylor, Source: Business Insider

It’s not the first time I’ve made this prediction.

A few weeks ago, Saylor gave a very similar prediction for bitcoin, suggesting that it will break the $1 million mark in the future:

“There is no target price. I expect that we will always buy bitcoins at the local top. And I expect Bitcoin to be in the millions. So we are very patient. We think this is the future of money.”

MicroStrategy began engaging with the leading digital asset in August 2020 when it began accumulating stakes on the corporate balance sheet. The company has continued to purchase amounts and currently owns almost 130,000 BTC. Given Saylor’s previous statements, the firm does not intend to part with its assets, but rather accumulate them.

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Credit : cryptopotato.com

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