Michael Sayer, a maximalist bitcoin holder and president and CEO of Microstrategy Company, is still bullish on bitcoin despite the bearish market. commenting on New regulatory bill of 07 June in one interview with CNBC On June 08, he predicted a future bitcoin price of around $1 million.
To support his statement, he highlighted the 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’s going to stay with us.”
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The interviewer argued about the possibility of BTC falling, and that his company Microstrategy, which holds around 130,000 BTC, could suffer more. Saylor replied that bitcoin is unlikely to drop to zero. Furthermore, he discussed that the current volatility is largely irrelevant.
Providing arguments for his belief in the development of bitcoin, he pointed out that both the skeptics and the detractors, who speculated that BTC would crash or that the government would soon shut down the asset class because it was not real, were proven wrong. Happened. Instead governments want to regulate it, and the price hasn’t dropped to zero yet; He continued, “If bitcoin is not going to zero, it is going to a million.”
The American tech tycoon further went on to say that bitcoin is “obviously better than gold and everything that wants to be gold.” He added that if BTC is similar in nature to gold, it will be “only five million USD per coin.”
Saylor believes people are now recognizing virtual assets
Sayer highlighted that people are now changing their perspective on cryptocurrencies. He referred to the new crypto-friendly bill created by Senators Kristen Gillibrand and Cynthia Loomis and Janet Yellen’s speech at American University on April 07. Yellen, in his speech, recited the vision of bitcoin creator Satoshi Nakamoto and explained how bitcoin could play an important role in the United States.
With these facts in mind, Sayler believes that people are now beginning to realize that BTC is here to stay with us and will further expand adoption.
This was not the first time Saylor had estimated the price of BTC to be $1 million. A few weeks ago, he expressed his vision of making it to the million mark.
He added at the time:
There is no price target. I hope we will buy bitcoin on local top forever. And I expect bitcoin to go into the millions. So we are very patient. We think this is the future of money.
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Cloud-based company MicroStrategy began talks with bitcoin in August 2020. In fact, it started accumulating portions of its corporate balance sheet. Since accumulating BTC continuously, it currently holds around 130,000 BTC. According to the CEO’s previous statements, he had no intention of changing his assets. Instead, he thinks of accumulating more BTC.
Featured image from Pixabay and chart from TradingView.com
