CEO and co-founder of Microstrategy, Michael Tayloris someone who always takes every opportunity to praise the bitcoin-short-term-holders-4-5-profits-nov-2021/” rel=”nofollow”>flagship cryptocurrency bitcoin. Once again, it did not disappoint as btc was the center of discussion in its latest media appearance.
bitcoin goes to $1 million
in a interview On CNBC, Michael Saylor stated that bitcoin will reach $1 million if it does not reach “zero.” He noted that the “big question” regarding btc's potential was whether the digital asset was legitimate or not. According to him, if bitcoin is a “legitimate institutional asset,” then everyone is “sub-allocated” to it.
Your comment about bitcoin Possibly Hits $1 Million It seems to stem from his belief that bitcoin as an asset is yet to be exploited, as he expects many institutional players to participate in the crypto token. He pointed out that currently 99.9% of the world's capital is linked to other global assets such as bonds, real estate, stocks and precious metals. However, he hopes that will change soon enough.
He believes that change will come from education about digital assets. Building on that, Saylor says more and more people will realize that they should allocate more and more capital to digital assets. Interestingly, he called btc a “digital transformation of capital,” alluding to its disruptive nature.
These institutional players could well be allocating more capital to btc as early as 2024. The new rule of the bitcoin-apple-amazon-google-balance-sheet/” rel=”nofollow”>Financial Accounting Standards Board (FASB) recently opened the door for companies to include cryptocurrencies like bitcoin on their balance sheet. As such, we could see other tech companies adopt Microstrategy's “bitcoin Strategy”.”
<img decoding="async" class="aligncenter size-medium" src="https://technicalterrence.com/wp-content/uploads/2023/12/MicroStrategy39s-Michael-Saylor-calls-Bitcoin-an-institutional-grade-asset-destined-for" alt="Tradingview.com bitcoin Price Chart” width=”3266″ height=”1530″ loading=”lazy”/>
btc price reclaims $43,000 | Source: BTCUSD on Tradingview.com
btc advances in 2024
Saylor also discussed several macro factors that he sees as bullish for bitcoin heading into the new year. These factors include the potential approval of a Spot bitcoin ETFthe easing of monetary policies and the broader adoption of btc in bitcoin-price-all-time-countries/” rel=”nofollow”>countries suffering from inflation.
He also alluded to the btc Halving event, which he believes is also bullish for the bitcoin ecosystem. All these factors They form a “confluence of very bullish milestones,” which Saylor projects will happen over the next six months.
Saylor will no doubt be pleased when his company's bitcoin strategy has paid off, as Microstarategy is currently profiting from its bitcoin acquisitions. The company's shares are also rising, having recently hit a 2-year high, thanks in part to its exposure to btc.
At the time of writing, btc is currently trading at around $43,000, up over 4% in the last 24 hours according to bitcoin/” rel=”nofollow”>data from CoinMarketCap.
Featured image from Yahoo Finance, chart from Tradingview.com
Disclaimer: The article is provided for educational purposes only. It does not represent NewsBTC's views on whether to buy, sell or hold investments, and investing naturally carries risks. It is recommended that you conduct your own research before making any investment decisions. Use the information provided on this website at your own risk.
