The Chief executive officer of Microstrategy shared his stance on Bitcoin and noted that his confidence will never go down with the price of Bitcoin.
Microstrategy is a business intelligence firm and right now this firm is known as the biggest corporate Bitcoin holder company. At present, Microstrategy is holding more than 1,25000 Bitcoins on its reserved funds. This year, Microstrategy showed very less inclination to buy Bitcoin but strongly held Bitcoin funds.
Recently Micheal Saylor, CEO of Microstrategy, appeared in an interview with Yahoo Finance Live. In the interview, Micheal predicted the future price of Bitcoin and claimed that it will be in millions.
Michael said, he doesn’t have any price target but he believes that it will be in millions in the future. At the same time, he asserted that we have to wait patiently because it is future money.
“There’s no price target. I expect we’ll be buying bitcoin at the local top forever. And I expect Bitcoin is going to go into the millions. So we’re very patient. We think it’s the future of money.”
Michael also said that regulation is a good thing for the crypto industry and also in the long term it will be better to have bitcoin because in the future other assets will face failure then people will come to know about Bitcoin.
“Once people figure out why bitcoin is superior to everything else, then the institutions are going to come in with large sums of money, and we’re not going to have to struggle through this massive explanation of why we’re different than 19,000 other crypto tokens.”
Microstrategy influencing other companies
Due to the highly eager Bitcoin adoption initiative by Microstrategy, many other leading US companies are considering going with Bitcoin investment plans or launching any kind of related services.
Here Microstrategy is holding its reserved Bitcoins tightly and also has no plans to sell Bitcoin but surely it can consider using its Bitcoin holdings to generate more revenue.
Read also: A member of US House introduced a bill in favor of crypto to include in 401(K)