250% Extra + $125 Free Chip!
New players only. 250% on 1st Deposit + $125 Free Chip
Michael Saylor, notorious Bitcoin-bull and Chairman of business intelligence software firm MicroStrategy, has voiced a staunchly optimistic view on the digital currency’s trajectory. Having steered MicroStrategy to become the first publicly-traded company to embrace Bitcoin for its corporate treasury back in 2020 in his role as CEO before stepping down, Saylor has led the firm in acquiring over 150,000 Bitcoin. Despite facing a wave of skepticism in the bear market, MicroStrategy’s Bitcoin investments have surged to an impressive $1 billion profit.
Saylor believes that the Bitcoin mining sector, obliged to sell assets to cover expenses, is currently exerting significant selling pressure, estimated at around $1 billion each month. He anticipates pivotal shift in April 2024, when Bitcoin’s next halving event is expected to cut this pressure in half, removing roughly $6 billion in selling pressure over the following year. Furthermore, the potential introduction of Spot Bitcoin ETF in the United States is set to fuel increased demand, creating a unique scenario where demand rises and supply contracts – a dynamic Saylor considers unprecedented in Wall Street history.
Given the recent cleanup of the industry from deceptive practices by individuals like Sam Bankman-Fried, who has just been found guilty on all charges and is facing up to 115 years in jail, Saylor sees a prime window for investment opening up. He asserts that the Bitcoin landscape is evolving, distancing itself from the so-called ‘crypto cowboys’ towards a more Wall Street-esque professionalism.
Saylor speculates on a significant surge for Bitcoin, predicting that if mainstream financial institutions and prudent asset managers shift their focus to Bitcoin, sidelining less substantial altcoins, the industry could be poised for an exponential growth, potentially increasing tenfold.
MicroStrategy’s confidence in Bitcoin’s future is underscored by its October acquisition of an additional 155 Bitcoin, reinforcing the company’s bullish stance under Saylor’s guidance.