MicroStrategy CEO Michael Saylor said in a radio interview that the current crypto winter will accelerate crypto regulation and showcase Bitcoin’s digital supremacy.
the main points
- On Thursday, MicroStrategy CEO Michael Saylor said during a video interview with Yahoo! Finance Live says he expects Bitcoin to be worth one in the millions one day, and the current cryptocurrency downturn hasn’t changed his opinion that Bitcoin is the “asset of the top”.
- Based on regulatory disclosures last December, MicroStrategy is the largest holder of Bitcoin with 122,478 coins on its balance sheet.
During a video interview Thursday with Yahoo! Michael Saylor, CEO of Finance Live, MicroStrategy, said he believes one Bitcoin will be worth millions one day. He further stated that his strategy is to not sell and take profits from Bitcoin at any time in the future. “Our strategy is to buy Bitcoin and hold Bitcoin. There is no target price. I expect we will buy Bitcoin at the local top forever. I expect Bitcoin to hit the millions. So we are very patient. We believe it is the future of money,” Saylor continued.
Saylor has been a passionate Bitcoin (BTC) bull for years, ensuring that his company puts its money where it is. Based on regulatory filings in December 2021, MicroStrategy owns a total of 122,478 Bitcoins, making MicroStrategy the world’s largest non-cryptocurrency exchange. The number of Bitcoin held by MicroStrategy is more than three times the amount held by the closest corporate investor, Tesla, which is said to have 38,300 Bitcoin in the company’s vault.
Saylor not only praised Bitcoin as the best investment asset, but predicted that Bitcoin would be a major medium of financial exchange when paired with the Lightning Network, which facilitates thousands of fast BTC transactions at once on a global scale. “It’s very clear that Bitcoin is the future of money, and Lightning is the future of payment. If you’re going to do high-speed payments and transactions, you need an ethically and economically sound underlayment,” said Saylor during a video interview:
Saylor Says Regulation Is Coming And Crypto Needs It
Although Bitcoin is currently trading at a discount of 50% compared to its high of $69,000 last November, Saylor says he is not a bit worried. In fact, he says that Bitcoin will eventually benefit from this recent crypto winter, triggered by the collapse of Terra (LUNA) and its stablemate TerraUSD (UST), as the sector’s deep decline serves as a hard education for crypto investors and a wake-up call for regulators, “what will happen is That a whole generation of crypto people will learn why Bitcoin is the best asset. And then a group of regulators will accelerate their regulation of stablecoins and speed up their regulation of crypto-tokens for securities. The winner of this entire exercise is Bitcoin.”
According to CoinMarketCap at the time of writing, Bitcoin was trading 3.24% higher at $30,304.18 per coin.
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