Michael Saylor of MicroStrategy expects that the value of Bitcoin will reach the millions

Following a market-wide carnage in which Microstrategy’s own BTC position is hanging in the red, Michael Saylor makes his daring forecast.

The hyper-bullish billionaire CEO of MicroStrategy seemed unfazed by the wild price swings in the cryptocurrency industry. Despite Bitcoin’s recent difficulties to cling onto the $30,000 barrier, Michael Saylor has yet another wild forecast for the cryptocurrency.

His long-term investment plan remains the same: to acquire and hold the biggest cryptocurrency in the world. The exec began building up his Bitcoin reserve in 2020.

With 129,218 BTC in its possession, MicroStrategy, the Saylor-led business analytics company, remains the biggest corporate Bitcoin owner. According to the current value of its Bitcoin holdings, it stands at a loss of nearly $70 million.

MicroStrategy CEO Saylor, on the other hand, is unwavering in his belief that the company would not sell its Bitcoin holdings at a pre-determined price point. In spite of the global disaster, the foremost Bitcoin maximalist and his business are calmly sticking steadily.

The following is an excerpt from an interview with Saylor for the Yahoo Finance Live blog: “There’s no set pricing point. When we purchase bitcoin at the current high, I believe we’ll continue to do so for as long as the market remains stable. As for Bitcoin, I believe it’s going to hit the million mark at some point. So we have to be patient. Money, we believe, has a brighter future ahead of it.”

Is Bitcoin the Money of the Future?

The downward spiral of Terra and UST was a tremendous blow to investor confidence. Stablecoins and security tokens will be regulated as a result of this event, according to Saylor.

Another Nasdaq-listed software company’s leader feels that this withdrawal and the accompanying regulation will be “positive for the industry,” too. Even if there are a thousand other crypto-assets out there, proponents claim that Bitcoin is the best.

Once people understand why bitcoin is better than all the other crypto tokens, big quantities of money will pour in from institutions and we won’t have to deal with this enormous explanation of why we’re different from 19,000 other crypto tokens.”

Bitcoin is the future of money, but it requires an “ethically, commercially, and technically solid” foundation layer and a second layer like Lightning Network to accomplish billions and billions of transactions.

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