Microstrategy CEO Expects Bitcoin to ‘Go Into the Millions’ Despite Crypto Market Sell-Off
May 20, 2022 13:03 UTC
May 20, 2022 at 13:03 UTC
Microstrategy’s corporate executive has expected that bitcoin is “going to travel into the millions” despite the recent cryptocurrency market sell-off. Noting that the cryptocurrency is the way forward for cash, he said: “We are in it for the future.”
Microstrategy Sees Bitcoin as the way Future of Money
The corporate executive of the Nasdaq-listed software package company Microstrategy, Michael Saylor, shared his bitcoin outlook Thursday in associate degree interview with Yahoo Finance Live.
The executive continues to be optimistic on bitcoin despite the recent sell-off. He was asked whether or not there’s a value target at that Microstrategy can begin liquidating a number of its bitcoins. the corporate is presently hodling 129,218 BTC.
“No,” the corporate executive replied, accenting, “we area unit in it for the future.” He elaborated: “Our strategy is to shop for bitcoin and hold the bitcoin, therefore there’s no value target. I expect we’ll be shopping for bitcoin at the native prime forever.” He continued:
I expect bitcoin goes to travel into the millions. So, we’re terribly patient. we expect it’s the longer term of cash.
Commenting on cryptocurrency regulation, he noted that “There’s been a stalemate in D.C. and on hill around stablecoin laws and around securities token laws.” Saylor value-added that “the Administration desires to maneuver faster” however “Congress is moving slower.”
The Microstrategy chief opined:
I think this meltdown of LUNA, UST, that’s aiming to accelerate the laws of stablecoins and security tokens, which is able to be a decent factor for the trade.
“Over time, i believe as folks get educated and as they get more leisurely, i believe we’ll endure this drawdown,” he complete.
Saylor has long been optimistic on bitcoin. In Gregorian calendar month, he same there’s proof of tons additional institutional adoption. In November last year, the said bitcoin emerged as a $100 trillion asset class.
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