Saylor is one of the most optimistic about the future of Bitcoin, which he has repeatedly referred to as the future of money. The executive commented that the cryptocurrency is a monopoly in monetary networks that he buys when he has US dollars.
American businessman and investor Michael Saylor recently spoke about the future of the price of Bitcoin (BTC). Furthermore, the CEO of MicroStrategy said that he would continue to buy and hold Bitcoin despite the sell-off in the market.
Saylor noted that there is no price target but that he expects to buy Bitcoin at the top forever. In addition, he predicted that the price would reach above USD 1 million, so they need to be very patient.
The community knows Saylor as a Bitcoin bull, as he is one of the most optimistic about the future of Bitcoin. On several occasions, he has stated that he believes that the creation of Satoshi Nakamoto is the future of money.
How Michael Saylor Reacts Amid the Bearish Market
The CEO of MicroStrategy commented that Bitcoin is the monopoly in monetary networks that anyone can acquire. For that reason, he pointed out that he buys the cryptocurrency when he has US dollars.
Michael Saylor said that investors sold Bitcoin alongside other risky assets such as stocks. The US Federal Reserve (Fed) increased interest rates, leading to the sale of riskier assets or those with skyrocketing valuations.
The American executive believes that this will be an excellent opportunity for the industry. He envisages that there will be a recovery as people receive more education and feel more comfortable.
Regarding the collapse of TerraUSD (UST), Saylor stated that regulators would speed up the regulation of stablecoins. However, he thinks Bitcoin will be the ultimate winner.
Saylor noted that institutions would invest large sums of money when people realize why Bitcoin is the best. At that point, no one will have to struggle with that massive explanation of why the pioneering cryptocurrency is different from the other 19,000 tokens.
Andrew Kang, the new CFO of MicroStrategy, said that he would not change his strategy to buy and hold Bitcoin in the long term. Despite the recent liquidation of the digital asset in the market, he pointed out that they have no intention of selling their holdings.
Saylor Thinks that Lightning Is the Future of Payments
The Lightning Network allows Bitcoin to expand its ability to process transactions more efficiently. For that reason, Michael Saylor believes it is the future of payments.
The billionaire investor explained that an ethically, economically, and technically sound base layer (Bitcoin) would be necessary to make payments and transactions rapidly. However, billions of operations will need to go to a second layer like the Lightning network.
Bitcoin is trading at around USD 29,540 and has accumulated a 1.5% gain over the last 24 hours. While its daily trading volume is above USD 12.86 billion, its market capitalization is about USD 562.50 billion, according to CoinGecko.
By Alexander Salazar
