- Bitcoin advocate and president of MicroStrategy, Michael Saylor, made a bold prediction by stating that a tremendous development is expected for Bitcoin before 2024.
- Saylor’s statement came at a time when there was a regulatory attack against cryptocurrencies in the US.
- Saylor argued that Bitcoin has relatively not suffered much damage because it operates outside the jurisdiction of the US Securities and Exchange Commission (SEC).
Michael Saylor, the founder of MicroStrategy, stated that a tremendous development is expected for Bitcoin before 2024.
Saylor Expects Massive Development Before 2024
Famous Bitcoin advocate and president of MicroStrategy, Michael Saylor, made a bold prediction by stating that a tremendous development is expected for Bitcoin before 2024. Saylor’s statement came at a time when there was a regulatory attack against cryptocurrencies in the US, and he believes that this attack targets the overall crypto market beyond Bitcoin.
Saylor argued that Bitcoin has relatively not suffered much damage because it operates outside the jurisdiction of the US Securities and Exchange Commission (SEC), and this raises the question of whether the market will eventually realize this fact.
Saylor’s bullish stance on Bitcoin has attracted widespread attention, especially its ability to resist regulatory pressures. He believes that the market is on the verge of something massive before 2024 and advises investors to be prepared for it.
During the interview, Saylor discussed various topics related to Bitcoin and the crypto sector. He discussed inflation, the possible interest rate hike cycle of the Federal Reserve, dollarization, and the need for progressive laws and regulators to facilitate the growth of digital assets.
Saylor emphasized the importance of a legitimate path for storing and exporting digital commodities as a store of value, highlighting the need for clarity and regulation in this new field.
The MicroStrategy CEO also addressed the challenges they face with stablecoins and regulatory oversight. To illustrate the complexities and political challenges surrounding digital currencies, he presented thought-provoking scenarios such as stablecoins backed by assets outside the US.
Furthermore, he emphasized the importance of clear regulations to facilitate the free circulation of digital assets, highlighting the significance of enabling the free circulation of digital assets without creating multiple taxation events.
As expected, the MicroStrategy CEO highlighted the appeal of Bitcoin as an investment asset and described its superior features compared to traditional assets such as real estate, stocks, gold, silver, and debt instruments.
MicroStrategy’s BTC Investments
MicroStrategy is currently the company with the most Bitcoin holdings. Starting in August 2020, MicroStrategy began buying Bitcoin and has purchased a total of 140,000 BTC to date, with none of them being sold.
The current value of MicroStrategy’s Bitcoin holdings is over $3.7 billion. The company last announced a Bitcoin purchase on April 5, 2023. No BTC purchases have been reported for approximately 2 months.
