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Micheal Saylor Says Current Volatility Irrelevant, Predicts Bitcoin At $1 M

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Bitcoin maximalist holder and MicroStrategy Chairman and CEO Michael Saylor remains bullish on Bitcoin despite the bear market. While commenting new regulatory bill of 07 June in interview with CNBC On June 8, he predicted that the price of Bitcoin would be around $1 million in the future.

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In support of his statement, he highlighted a new cryptocurrency bill proposed by Democratic Senator Kirsten Gillibrand and Republican Senator Cynthia Lummis to introduce crypto-friendly rules. Saylor added that Bitcoin is “the real thing that will be with us.”

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The interviewer argued that BTC could fall and his company MicroStrategy, which owns almost 130,000 BTC, could face big losses. Sailor responded that bitcoin was unlikely to drop to zero. In addition, he discussed that the current volatility is largely irrelevant.

Arguing for his belief in the rise of bitcoin, he pointed out that both skeptics and deniers who assumed that BTC would collapse, or that governments would close the asset class soon as it was not realistic, turned out to be wrong. Instead, governments are looking to regulate it, and the price hasn’t dropped to zero yet; he added: “If Bitcoin doesn’t reset to zero, it will reach a million.”

The American tech mogul further stated that Bitcoin is “obviously better than gold and everything that gold wants to be.” He noted that if BTC had the same nature as gold, it would “be worth only five hundred thousand dollars per coin.”

BTCUSD
Bitcoin price is currently trading above $30,000. | Source: BTC/USD chart from tradingview.com

Sailor believes people are now recognizing virtual assets

Sailor emphasized that now people are changing their views on cryptocurrency. He mentioned the new crypto-friendly bill created by Senators Kristen Gillibrand and Cynthia Lummis, as well as Janet Yellen’s April 7 speech at American University. Yellen, in her speech, laid out the vision of Bitcoin creator Satoshi Nakamoto and how Bitcoin could play a pivotal role in the United States.

With these facts in mind, Saylor believes that now people have begun to understand that BTC will stay with us and will increase adoption in the future.

This was not the first time Sailor had speculated on the $1 million BTC price. A few weeks ago he expressed his vision skyrocketed to the million mark.

He added at the time:

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.

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Cloud company MicroStrategy began interacting with bitcoin in August 2020. In fact, she began to accumulate part of her corporate balance sheet. Since constantly collecting BTC, this is currently holding about 130,000 BTC. According to the CEO’s previous statements, he had no intention of changing his property. Instead, he is thinking about accumulating more BTC.

Featured image from Pixabay and chart from TradingView.com





Credit : www.newsbtc.com

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