{"id":17320,"date":"2022-05-20T05:06:19","date_gmt":"2022-05-20T05:06:19","guid":{"rendered":"http:\/\/egrowonline.com\/?p=17320"},"modified":"2022-05-20T05:06:19","modified_gmt":"2022-05-20T05:06:19","slug":"microstrategy-ceo-expects-bitcoin-to-go-into-the-millions-despite-crypto-market-sell-off-markets-and-prices-bitcoin-news","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=17320","title":{"rendered":"Microstrategy CEO Expects Bitcoin to ‘Go Into the Millions’ Despite Crypto Market Sell-Off \u2013 Markets and Prices Bitcoin News"},"content":{"rendered":"


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\n\"Microstrategy\n<\/div>\n

Microstrategy\u2019s CEO has predicted that bitcoin is \u201cgoing to go into the millions\u201d despite the recent cryptocurrency market sell-off. Noting that the cryptocurrency is the future of money, he said: \u201cWe are in it for the long term.\u201d<\/strong><\/p>\n

Microstrategy Sees Bitcoin as the Future of Money<\/h2>\n

The CEO of the Nasdaq-listed software company Microstrategy, Michael Saylor, shared his bitcoin outlook Thursday in an interview with Yahoo Finance Live.<\/p>\n

The executive is still bullish on bitcoin despite the recent sell-off. He was asked whether there is a price target at which Microstrategy will start liquidating some of its bitcoins. The company is currently hodling<\/a> 129,218 BTC<\/a>.<\/p>\n

\u201cNo,\u201d the CEO replied, emphasizing, \u201cwe are in it for the long term.\u201d He elaborated: \u201cOur strategy is to buy bitcoin and hold the bitcoin, so there\u2019s no price target. I expect we\u2019ll be buying bitcoin at the local top forever.\u201d He continued:<\/p>\n

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I expect bitcoin is going to go into the millions. So, we\u2019re very patient. We think it\u2019s the future of money.<\/p>\n<\/blockquote>\n

Commenting on cryptocurrency regulation, he noted that \u201cThere\u2019s been a deadlock in D.C. and on Capitol Hill around stablecoin regulations and around securities token regulations.\u201d Saylor added that \u201cthe Administration wants to move faster\u201d but \u201cCongress is moving slower.\u201d<\/p>\n

The Microstrategy chief opined:<\/p>\n

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I think this meltdown of LUNA, UST, that\u2019s going to accelerate the regulations of stablecoins and security tokens, which will be a good thing for the industry.<\/p>\n<\/blockquote>\n

\u201cOver time, I think as people get educated and as they get more comfortable, I think we\u2019ll recover from this drawdown,\u201d he concluded.<\/p>\n

Saylor has long been bullish on bitcoin. In February, he said<\/a> there\u2019s evidence of a lot more institutional adoption. In November last year, he said bitcoin will emerge as a $100 trillion<\/a> asset class.<\/p>\n

What do you think about the comments by Microstrategy\u2019s CEO? Let us know in the comments section below.<\/strong><\/em><\/p>\n

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\nKevin Helms <\/h6>\n

\nA student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com<\/a> does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<\/div>\n

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