Micheal Saylor Says Current Volatility Is Irrelevant, Predicts Bitcoin at $1M


Bitcoin maximalist headline and MicroStrategy company chairman and CEO Micheal Saylor remains bullish on Bitcoin despite the bear market. While he was commenting on new regulatory bill of June 7 in a interview with CNBC on June 8, he predicted that the price of Bitcoin would hover around $1 million in the future.

To support his statement, he highlighted the new cryptocurrency bill proposed by Democratic Senator Kirsten Gillibrand and Republican Senator Cynthia Lummis to bring crypto-friendly rules. Saylor added that Bitcoin is “a real thing that will be with us.”

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The interviewer argued about the possibility of BTC falling, and his company MicroStrategy, which owns almost 130,000 BTC, could face more losses. Saylor replied that Bitcoin is not likely to plummet to zero. Furthermore, he argued that current volatility is largely irrelevant.

While providing arguments for his belief in Bitcoin’s growth, he pointed out that both skeptics and deniers, who speculated that BTC would crash or that governments would shut down the asset class as soon as it wasn’t real, were proven wrong. Governments instead seek to regulate it, and the price has not yet dropped to zero; he added: “If Bitcoin doesn’t go to zero, then it goes to a million.”

The American tech mogul further claimed that Bitcoin is “obviously better than gold and everything gold wants to be.” He noted that if BTC had the same nature as gold, “it would only be $500,000 per coin.”

BTCUSD
Bitcoin price is currently trading above $30,000. | Source: TradingView.com BTC/USD chart

Saylor believes that people now recognize virtual assets

Saylor highlighted that people are now changing their perspectives on cryptocurrencies. She mentioned the new cryptocurrency-friendly bill, authored by Senators Kristen Gillibrand and Cynthia Lummis, and Janet Yellen’s April 7 speech at American University. Yellen, in her speech, recited the vision of Bitcoin creator Satoshi Nakamoto and revealed how Bitcoin could play a crucial role in the United States.

Given these facts, Saylor believes that people have now started to realize that BTC is here to stay with us and will expand adoption in the future.

It was not the first time that Saylor speculated the price of BTC at $1 million. A few weeks ago, she expressed her vision that it would skyrocket to the million mark.

He added at the time:

There is no target price. I hope we will be buying bitcoins at the local top forever. And I hope Bitcoin hits the millions. So we are very patient. We believe it is the future of money.

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Cloud-based company MicroStrategy started interacting with Bitcoin in August 2020. In fact, it started accumulating parts of its corporate balance sheet. Since he continuously collects BTC, he currently has around 130,000 BTC. According to previous statements by the CEO, he had no intention of changing his possessions. Instead, he thinks about accumulating more BTC.

Featured image from Pixabay and chart from TradingView.com


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