Microstrategy CEO Foresees Bitcoin"s Price Reaching $6 Million
The CEO of Microstrategy expects the price of bitcoin to reach $6 million, noting that it is “unstoppable” and will replace gold. The executivepersonally owns 17,732 bitcoins while his company is hodling 122,478 bitcoins. Microstrategy’s CEO Expects Bitcoin to Hit $6 Million
Microstrategy CEO Michael Saylor talked about his bitcoin strategy and BTC price prediction in a recent interview with the Information, published this week.
Saylor revealed that he personally owns at least 17,732 bitcoins, which is the same amount he disclosed back in October last year. At the current BTC price, his bitcoin stash is worth almost $858 million.
The Microstrategy executive never sold any of his bitcoins and does not believe they should ever be sold. Furthermore, the Information reported: Saylor foresees bitcoin hitting $600,000 a coin, and eventually $6 million.
Meanwhile, Microstrategy has amassed 122,478 BTC, worth almost $6 billion at the current price. The coins were acquired at an average purchase price of $29,861 and for the cost basis of $3.7 billion, according to the company’s “Investor Day” presentation, published last week.
Microstrategy described itself as “the largest publicly traded corporate holder of bitcoin in the world and the first public company to adopt bitcoin as primary treasury reserve asset.” Its corporate strategy is to “Acquire and hold bitcoin long-term” and “purchase bitcoin through use of excess cash flows, and debt and equity transactions.”
In November, Saylor said that bitcoin was “unstoppable” and will “emerge as a $100 trillion asset class.” The CEO has repeatedly said that BTC will replace gold. He said early this month: “Once upon a time, gold was the most desirable store of value. Now bitcoin is taking its place.” Tags in this story bitcoin forecast, bitcoin prediction, Bitcoin Price, bitcoin price $6 million, bitcoin price $600K, bitcoin price forecast, michael saylor, michael saylor bitcoin, microstrategy, microstrategy bitcoin, price of bitcoin, price prediction
What do you think about Michael Saylor’s bitcoin price prediction? Let us know in the comments section below. Kevin Helms
A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography. Bitcoin"s Bearish Prices at the End of 2021 Not Much Different Than 8 Previous Year-End Cycles MARKETS AND PRICES | 3 days ago Crypto FOMO Will Be Huge Investment Driver, Regulatory Clarity Expected in 2022, Says Blockfi Executive MARKETS AND PRICES | 4 days ago
Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleAccounting Firm PWC’s Hong Kong Branch Purchases Land in The Sandbox Metaverse Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItNBA Legend Kevin Durant Joins Coinbase to Help Promote the Crypto Exchange’s Brand
American professional basketball player for the National Basketball Association (NBA) Kevin Durant, is joining Coinbase according to a recent report from Bloomberg. According to the report, Durant will appear as “a face of the brand” and will help promote the ... read more.Robinhood Launches Cryptocurrency Gifts Program Adidas Reveals the Originals NFT Collection With Punks Comics, Gmoney, Bored Apes Canaan Secures Order for 30,000 Bitcoin Mining Rigs From Genesis Digital Assets Russia to Decide Between Full Ban and Legalization of Crypto Investments, Trade