• The CEO of Microstrategy discusses Bitcoin becoming a $100 trillion asset class, predicting that BTC will grow 100X

  • According to the CEO of Microstrategy, bitcoin will become a $100 trillion asset class and will grow 100X from where it is now. He claims that cryptocurrency is outperforming gold as a store of value, and he is unconcerned about regulation. “I’m not bothered by the regulations that are currently in effect.”

    As a store of value, ‘Bitcoin Is Winning, Gold Is Losing.’

    In an interview with CNBC on Friday, Microstrategy CEO Michael Saylor discussed the future of bitcoin. He spoke about bitcoin’s institutional adoption, crypto regulation, market volatility, gold versus bitcoin, and BTC as the world’s dominant digital asset and safe-haven investment.

    His company currently has 114,042 BTC in its possession. He was asked if he planned to keep stacking bitcoin at the current price or wait for a further drop. “We’re going to keep stacking forever,” he replied.

    Saylor was asked whether he believes “bitcoin has replaced, will replace, or is in the process of replacing gold as the store of value for most investors.” Noting bitcoin’s advantages over gold, such as its ease of transfer and low storage cost, he stated:

    It’s clear that bitcoin is winning, while gold is losing… and it will continue… It’s clear that digital gold will supplant physical gold in the coming decade.

    “I’m not at all troubled with the regulations that are going on right now,” Saylor said of the $1 trillion infrastructure bill’s controversial crypto provision.

    “The safe haven for institutions is to use bitcoin as a store of value,” he explained, emphasizing that “Bitcoin is the only ethical, technical, and legal safe haven in the entire cryptocurrency ecosystem.”

    The pro-bitcoin CEO of Microstrategy stated that the crypto regulation being debated in Washington will “have an impact on security tokens, defi [decentralized finance] exchanges, crypto exchanges, and all the other use cases of crypto that are not bitcoin.”

    ‘Unstoppable’ — Bitcoin to Become a $100 Trillion Asset Class, representing a 100X Increase

    Saylor was also asked what he thinks is a reasonable price target for bitcoin and whether he thinks the coin will be worth $1 million someday. He responded that if the value of bitcoin doubles every year, then:

    By the end of the decade, it will have flipped gold, monetary indexes, a little bit of bonds, a little bit of real estate, and a little bit of equity, and will have emerged as a $100 trillion asset class. So, 100 times where it is now.

    “When we get there, it will be 5 percent to 7 percent of the global economy,” he added. The US dollar will most likely replace 150 currencies. Perhaps there will only be two or three left. There could be the euro, the Chinese yuan, and the US dollar. Everything else will most likely vanish. Then bitcoin will be the global monetary index. If you just want to keep your money and don’t want to express a credit, equity, or property or real estate sentiment.”

    Finally, Saylor was asked how countries will react to the scenario he described, as well as whether bitcoin is unstoppable or whether reaching the point he described will be dependent on governments. He confirmed:

    As a digital asset, I believe bitcoin is unstoppable.

    He went on to say that there will be three types of countries. Communist countries, such as North Korea, “won’t give you property rights” and “won’t let you own anything,” he said, adding, “They’ll probably ban it.”

    The second category includes countries with depreciating currencies. “Capital controls will be implemented.” “They’ll let you own it, but they won’t let you exchange or trade it,” Saylor observed. He went on to say, “It’s not illegal to own bitcoin in China.” They simply do not want you to withdraw billions of dollars from their economy.”

    The third category includes western nations with strong currencies, such as the US dollar. “Of course, it’ll be considered property,” Saylor said. “When you sell it, you will have to pay capital gains tax.”

    What's your reaction?
    Happy0
    Lol0
    Wow0
    Wtf0
    Sad0
    Angry0
    Rip0