MicroStrategy CEO Michael Saylor evaluated Bitcoin’s price volatility, the status of Bitcoin in the cryptocurrency market, and Bitcoin mining activities.
Michael Saylor, CEO of MicroStrategy, one of the companies that invested most in Bitcoin, evaluated the price fluctuation of Bitcoin, the situation of Bitcoin in the cryptocurrency market and Bitcoin mining activities in an interview with CNN. Expressing that Bitcoin has matured as an asset class, Saylor said that it is not an asset that has grown as much as Bitcoin and cannot achieve success. He stated that there are negative attitudes about Bitcoin due to the mainstream media’s emphasis on short-term price movements.
Saylor said that he thinks that Bitcoin’s price fluctuation keeps the crypto money alive, and emphasized that the leading cryptocurrency has performed 10 times better than stocks and 100 times compared to gold in the past 10 years.
“I prefer volatility and the vibrancy that comes with it, rather than a stable stagnation”
Saylor gave an example by comparing Amazon and Bitcoin. He said that Amazon shares had similarly fluctuated in previous years, but this did not break the faith of the company’s CEO, Jeff Bezos.
In addition, the CEO thinks that the proof-of-work structure and architecture behind Bitcoin mining give the leading cryptocurrency a critical advantage in long-term success, making it superior to other cryptoassets or financial instruments.
“Proof of labor structure; It’s the best framework for designing something that will be decentralized, secure and long-term integrated.”
Michael Saylor recently mediated between Elon Musk and US Bitcoin miners to establish the Bitcoin Mining Council. With the established council, it will work on the transition to clean energy in Bitcoin mining activities.
Latest situation in bitcoin price
The decline in the price of Bitcoin, which has had difficult weeks, continues. The leading cryptocurrency, hovering between $ 32,000 and $ 36,000, has to hold on permanently above the $ 40,000 level. If this hold is realized, experts think that a new upward wave may come. It is trading at $35,402 at the time of writing, up 1.84% in the last 24 hours.