Maximalist Bitcoin owner and Chairman and CEO of MicroStrategy Michael Saylor remains bullish on Bitcoin despite the bear market. while commenting on The new regulatory invoice is dated June 07 in Interview with CNBC On June 08, he predicted that the price of Bitcoin would be around $1 million in the future.
In support of his statement, he highlighted a new crypto bill proposed by Democratic Senator Kirsten Gillibrand and Republican Senator Cynthia Loomis to bring in crypto-friendly rules. Saylor added that Bitcoin is “a real thing that will be with us.”
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The interviewer argued that BTC might fall, and his company MicroStrategy, which holds close to 130,000 BTC, could face further losses. Saylor replied that bitcoin would not likely drop to zero. Furthermore, he argued that current volatility is largely irrelevant.
While making arguments for his belief in Bitcoin’s growth, he noted that both skeptics and deniers, who have speculated that BTC will collapse or that governments will soon shut down the asset class because it is not real, have been proven wrong. Governments instead seek to regulate it, and the price has not yet fallen to zero; “If bitcoin does not reach zero, it will reach a million,” he added.
The US tech mogul further stated that Bitcoin is “obviously better than gold and all that gold wants.” He noted that if BTC were of the same nature as gold, it would “only be five hundred thousand US dollars per coin.”
Saylor believes that people are now aware of virtual assets
Saylor highlighted that people are now changing their views on cryptocurrency. He noted the new crypto-friendly bill, created by Senators Christine Gillibrand and Cynthia Loomis, and Janet Yellen’s April 7 speech at American University. Yellen, in her speech, recounted the vision of Bitcoin creator Satoshi Nakamoto and revealed how Bitcoin could play an important role in the United States.
Given these facts, Saylor believes that people are now beginning to realize that BTC is here to stay and will expand adoption in the future.
This was not the first time that Saylor had speculated at $1 million BTC. A few weeks ago, he expressed Seeing her jump to the million mark.
He added at the time:
There is no target for the price. I predict we will buy bitcoin from the local top forever. I expect Bitcoin to be worth millions. So we are very patient. We believe it is the future of money.
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Cloud-based MicroStrategy started interacting with Bitcoin in August 2020. In fact, it started accumulating parts of the company’s balance sheet. Since he constantly collects BTCs, he Currently carrying About 130,000 bitcoins. According to the previous CEO’s statements, he had no intention of changing his holdings. Instead, he is considering accumulating more BTC.
Featured image from Pixabay and chart from TradingView.com