Jun 09, 2022 05:05

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

Maximalist Bitcoin holder and the Chairman and CEO of the MicroStrategy company, Micheal Saylor, is still bullish on the Bitcoin despite the bearish market. While commenting on the new regulatory bill of June 07 in an interview with CNBC on June 08, he predicted Bitcoin’s price to be around $1 million in the future. To back his statement, he highlighted the new crypto bill proposed by Democratic Senator Kirsten Gillibrand and Republican Senator Cynthia Lummis to bring the crypto-friendly rules. Saylor added that Bitcoin is a “real thing that is going to be with us.” Related Reading | Do Knwon Turns Twitter Account To Private After LUNA Slumps The interviewer argued about the possibility of BTC falling down, and his company MicroStrategy, which nearly holds 130,000 BTC, could face more losses. Saylor replied that Bitcoin would not likely plummet to zero. Furthermore, he discussed the current volatility is largely irrelevant. While providing arguments for his belief in Bitcoin growth, he pointed out that both skeptics and deniers, who speculated BTC would crash or governments would shut down the asset class soon as it was not real, proved 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 Believes People Now Recognizing Virtual Assets  Saylor highlighted that people are now changing their perspectives on cryptocurrency. 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, in her speech, recited the vision of Bitcoin creator Satoshi Nakamoto and revealed how Bitcoin could play a crucial role in the United States. Considering these facts, Saylor believes that people have now started to realize that BTC is here to stay with us and will expand the adoption ahead. It was not the first time Saylor speculated BTC’s price at $1 million. A few weeks ago, he expressed his vision of it skyrocketing to the million mark. He added at the time: There’s no price target. I expect we’ll be buying bitcoin at the local top forever. And I expect Bitcoin is going to go into the millions. So we’re very patient. We think it’s the future of money. Related Reading | TA: Bitcoin Stuck In Key Range, Why A Major Breakout Is Possible The cloud-based company MicroStrategy started interacting with Bitcoin in August 2020. In fact, it began accumulating portions of its corporate balance sheet. Since continually gathering BTCs, it currently holds around 130,000 BTC. Per the previous statements of the CEO, he had no intentions to change its possessions. Instead, he thinks about accumulating more BTC. Featured image from Pixabay and chart from TradingView.com  

Nov 16, 2021 10:35

Binance CEO Says Crypto Never Sleeps, Michael Saylor Responds

CZ tweeted, saying “crypto never sleeps.” Michael Saylor responded to CZ’s tweet. Founder and CEO of Binance Changpeng Zhao, commonly ...

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Aug 26, 2021 06:15

Saylor picks up another 3,907 Bitcoin ahead of Friday’s $2 billion options expiry

Michael Saylor’s-led Microstrategy, a United States-based intelligence firm, has announced the purchase of 3,907 additional Bitcoin for approximately $177.0 million in cash, at an average price of $45,294.  Microstrategy buys Bitcoin This was made known via a SEC filing yesterday which also revealed that the crypto firm now holds 108,992 Bitcoin that was acquired for […]

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Dec 06, 2024 12:05

Michael Saylor Predicts Bitcoin Market Cap Of $280 Trillion By 2045What Will The Price Be?

In a recent interview with Fox Business, Michael Saylor, co-founder and chairman of MicroStrategy, expressed an ambitious vision for Bitcoin (BTC), predicting a substantial increase in its overall market value over the next 21 years.  This forecast aligns with MicroStrategys ongoing strategy of intensifying its Bitcoin acquisition program, which has significantly influenced the company’s stock performance, linking it closely to Bitcoin’s price movements. Saylor Envisions Bitcoin Price Soaring To $13 Million Bitcoin has already reached a valuation of approximately $2 trillion, with its price hitting a new record of $104,000 on Thursday. However, Saylor anticipates an additional $200 trillion will be added to Bitcoin’s market cap by 2045, driven largely by global inflationary pressures.  According to Saylor, many investors are moving away from traditional assets in favor of Bitcoin, viewing it as a viable global monetary asset. He asserts that as more capital flows into Bitcoin, its growth trajectory will outpace equities, gold, and real estate. Related Reading: XRP Downtrend Is Only Temporary: Analyst Gives Reasons Why Price Is Headed For $3.2 Delving into specific price predictions, Saylor posited that bitcoin could reach an astounding $13 million per coin. This would represent a 12,384% growth if Saylor’s predicted scenario comes to fruition, potentially making it the largest currency in the world.  Saylor bases this estimate on an analysis suggesting that Bitcoin has historically grown at an average annual rate of 29%. This growth, he argues, could continue, leading to the projected valuation by 2045.  NewsBTC previously reported that Saylor believes that Bitcoin represents only 0.1% of the global capital market, but he envisions that figure increasing to 7%. Saylor also provided a detailed analysis of Bitcoin’s growth trajectory, outlining a four-year projection with an average growth rate that might start at 44% and gradually taper down to 30%.  Contrary to the perception of Bitcoin as a high-risk asset, Saylor emphasizes its potential as a safe haven for risk-averse investors, highlighting the increasing demand for security in investment choices. MicroStrategy Ramps Up BTC Acquisitions In a recent social media update, Saylor shared the company’s performance following three years of strategic Bitcoin investments. He announced that year-to-date, MicroStrategy’s treasury operations have delivered an impressive BTC yield of 63.3%, resulting in a net benefit of approximately 119,800 BTC for shareholders.  At prices of $103,000 per BTC, this translates to an estimated $12.3 billion in returns for the year, positioning MicroStrategy as one of the most profitable and fastest-growing companies operating under the Bitcoin Standard. Related Reading: Dont Fade Dogecoin! Analyst Says DOGE Is About To Rally On Monday, MicroStrategy revealed that it has significantly ramped up its BTC acquisitions, surpassing the milestone of 400,000 BTC in its portfolio. The company sold 3.7 million shares of its stock, generating around $1.5 billion in proceeds immediately reinvested into Bitcoin. This marks the fourth consecutive week of Bitcoin purchases by the firm. Since November 11, MicroStrategy has invested over $13.5 billion in Bitcoin across three separate transactions, bringing its total holdings to approximately $38 billion, or 402,100 BTC, at an average purchase price of $56,658 per coin.  BTC trades at $101,628 at the time of writing, recording a 6% surge in the 24-hour time frame.  Featured image from DALL-E, chart from TradingView.com

Dec 04, 2024 12:00

Microsofts Bitcoin dilemma: Ride $5T BTC wave or avoid risk

Microsofts shareholders will soon vote on adding Bitcoin to its balance sheet. Will Michael Saylor's pitch Orange Pill the tech giant? What are the stakes and risks?

Dec 23, 2024 04:10

Former Binance.US CEO Brian Brooks Joins MicroStrategy Board

MicroStrategy, led by Bitcoin advocate Michael Saylor, has brought three new members onto its board of directors. Former Binance.US CEO Brian Brooks, Jane Dietze, and Gregg Winiarski joined the board on December 20, as revealed in a recent SEC filing. This expansion brings the total number of board members to