Michael Saylor, remains bullish on bitcoin despite the market downturn. In an interview with CNBC on June 8, he commented on the new regulatory bill on June 7 and predicted that the price of bitcoin would approach $1 million in the future.
— Michael Saylor⚡️ (@saylor) June 8, 2022
To support his remarks, he highlighted the new cryptocurrency bill proposed by Democratic Senator Kirsten Gillibrand and Republican Senator Cynthia Lummis, to introduce rules favorable to cryptocurrencies. Michael Saylor added that bitcoin is a “real thing that will stay with us“.
He raised the possibility of a fall in BTC, and his company MicroStrategy, which holds almost 130,000 BTC, could suffer more losses. Mr. Saylor replied that bitcoin is unlikely to fall to zero. Furthermore, he explained that current volatility is irrelevant.
While providing arguments to justify his belief in bitcoin’s growth, he pointed out that skeptics and deniers, who speculated that bitcoin would crash or that governments would quickly shut down the asset class because it was not real, were wrong. On the contrary, governments seek to regulate it, and the price has not yet fallen to zero; he added : “If bitcoin doesn’t go to zero, then it goes to a million.”
The American tech mogul further stated that bitcoin is “obviously better than gold and anything gold wants to be.He noted that while BTC has the same nature as gold, it “would only be five hundred thousand USD per piece.”
Michael Saylor thinks people now recognize virtual assets
Michael Saylor pointed out that people are now changing their views on cryptocurrencies. He mentioned the new cryptocurrency-friendly bill, created by Senators Kristen Gillibrand and Cynthia Lummis, and Janet Yellen’s April 7 speech at American University. In her speech, Ms. Yellen recalled the vision of the creator of bitcoin, Satoshi Nakamoto, and revealed how bitcoin could play a crucial role in the United States.
Given these facts, Michael Saylor thinks people have now started to realize that bitcoin is here to stay with us and its adoption will expand in the future.
This is not the first time that Saylor has speculated on the price of BTC at $1 million.. A few weeks ago, he expressed his vision of soaring to the million mark.
He added at the time:
There is no target price. I expect us to buy bitcoins at the local top forever. And I think bitcoin is going to hit the millions. So we are very patient. We believe this is the future of money.
Cloud-based company MicroStrategy started interacting with bitcoin in August 2020. In fact, it started accumulating portions of its corporate balance sheet. Since she continuously collects bitcoins, she currently holds around 130,000 bitcoins. According to previous statements from the CEO, he has no intention of changing his holdings. Instead, he thinks about accumulating more BTC.