Michael Saylor, CEO of the world’s largest publicly traded business intelligence firm, explained how Bitcoin could meteorically rise 100 times or more from the current price.
In a conversation with MicroStrategy manager, Binance’s founder Changpeng Zhao, the old narrative that Bitcoin is a variable, speculative asset suitable for investing 1 or 2 percent of a person’s capital; He argues that it should become the ultimate safe haven and store of value:
“THE SPECULATIVE NARRATOR WAS PRESSED BEFORE MARCH, BUT THAT WILL NOT APPLY TO 99% OF INVESTORS OR WORLDWIDE MONEY. THEY WANT SOMETHING DIFFERENT. ‘BITCOIN IS A FINAL SYNTHETIC, LONG-TERM TREASURY RESERVE. THIS IS A SAFE PORT PRESENCE, DESIGNED TO BE MORE EXCLUSIVE THAN ITS CARRIER INSTRUMENTS THAT ARE A VALUE STORAGE. FURTHER, NOT 1 PERCENT OF INVESTORS ‘MONEY; I TALK ABOUT AN ASSET THAT CAN DEPOSE 50 PERCENT AND 100 PERCENT. ”
Saylor: “Investments in Bitcoin can come from these markets”
If this changes in the narrative, the Bitcoin bull pointed out several markets that could start transferring their money to Bitcoin and drastically increase the price and market value of the leading cryptocurrency:
“The people we want to attract are people who put their money in gold. Because they don’t trust fiat currency. There are 10 trillion in that market… which gives you 20-50 times the value.
Second part, bond investors; negative return debt is 17 trillion dollars. The debt is $ 100 trillion with a return of zero to three percent. Why are they investing in bonds and sovereign currency? Because it’s a safe haven.
So people’s thinking is that the market becomes scary and they run to a safe haven. I think this is pretty important in the crypto industry. With regard to Bitcoin, you position Bitcoin as the ultimate long-term, safe-haven asset so investors rush to it. This gives you yet another 10, 20, 30x.
And finally there is a pool of big technology investors. You can argue that many people use big technologies like Tesla, Apple, Amazon as a store of value. They lost confidence in their currency. They know they can’t invest in negative-yielding bonds. They are not sure about gold. ”
Saylor believes gold is clearly out of date and not a major competitor for Bitcoin:
“GOLD IS DEFECTIVE. AN OLD VALUE STORE. IT WAS THE BEST WAREHOUSE FOR 5,000 YEARS, UNTIL I INVENTED THE COMPUTER… UNTIL IT WAS NO GOOD IDEA, IT WAS A GOOD IDEA.