Michael Saylor, outspoken bitcoin advocate and executive chairman of Microstrategy, is back making headlines with bold bitcoin predictions, the cryptocurrency’s future. Speaking recently to CNBC, Saylor pointed to the convergence of political, regulatory and financial forces he says will propel bitcoin to new heights.
Saylor also attributed the bull run of the bitcoin to the increased interest from Wall Street. It cited BlackRock which it identified as the world’s biggest asset manager for its vocal endorsement of bitcoin. BlackRock has been a very strong voice explaining the value proposition for bitcoin, Saylor said.
Microstrategy’s $42 Billion Bitcoin Acquisition Plan
The latest one can mention a few names, like Microstrategy, a company that is amongst the largest holders of the BTC in the corporate world, declared on October 30 to raise $42 billion, which would specifically be for the BTC acquisitions. Saylor emphasized the magnitude of this move, explaining: That is equivalent to stating we will purchase every BTC produced for the next three years at $ 85,000 or even more per bitcoin. He noted:
“There’s a lot of bullish things going on in the market right now.”
Saylor also pointed to the roles of leadership within the United States Securities and Exchange Commission regarding the future of digital assets. Their replacement, he said, could bring ‘major transformations’, such as the establishment of a complete digital assets law and the resolution of regulatory disputes within the crypto space. I think the SEC’s leadership is probably the most significant position in the entire digital assets industry, Saylor said, adding that he expects proper regulation to occur.
Saylor was sure of the potential of bitcoins, which was why he could rule out the chances of BTC going below $30000. However, what he is suggesting is a gradual rise towards $100,000. ‘Well, I doubt it can go to sixty thousand of them this time. It’s not going to $30K. I mean I think it’s going to go up from here’, he opined, noting:
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“I’m planning the $100K party and I’m thinking it’s probably going to be New Year’s Eve at my house, I would be surprised if we don’t go through $100K in November or December.”
Saylor Endorses U.S. Strategic Bitcoin Reserve, Predicts $16 Trillion Debt Reduction
Discussed during the conversation were also the issues regarding the possibility for BTC to become a national reserve for the USA. Saylor also endorsed U.S. Senator Cynthia Lummis’ plan for a U.S. strategic BTC reserve he believes can help transform America’s economy.
I think it’s a great idea. And it is right for the United States in order to fortify its leadership positions in the global economic arena to implement such steps. Saylor said using Lummis application, he was able to predict that it could eliminate $16 trillion of American debt. Talking about Microstrategy’s quick Bitcoin purchases, he shared:
“All of our investors tell me, they want me to buy more bitcoin. They want me to raise capital to buy bitcoin. And their number one concern was: ‘Are you going to stop issuing equity to buy bitcoin?’ So, we were actually addressing their concerns.”
The Anglo Swiss business intelligence firm Microstrategy has not throttled its hostile BTC run yet. Saylor also announced that the company raised $2 billion in the first 10 days of November to purchase 27,200 bitcoins. Microstrategy’s three year bitcoin plan may expand, suggested Saylor, and all of that was due to the market trends and the flexibility of that plan based on the conditions.
Conclusion
Michael Saylor’s audacious optimism about bitcoin IS also captured through his apostolic commitment to the heedless impact of the digital currency as demonstrated in the following statement on twitter. That is where Wall Street comes in, regulatory positivity, and an acquisition-focused approach paints the picture bright for the next phase of BTC which, combined with their 100K tokens, could bring a celebration worthy of their rise.
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