May 28, 2024

Michael Saylor: "Bitcoin will never hit zero"

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Michael Saylor: “Bitcoin will never go to zero”

CEO MicroStrategybelieves that the BTC rate will never fall to zero, as international regulators are looking for ways to control crypto-assets, rather than imposing a total ban on them.

In an interview with the Squawk Box program on the channelOn CNBC, well-known Bitcoin supporter Michael Saylor said that BTC skeptics and opponents have failed. He mentioned a bill to regulate cryptocurrencies in the United States, which Senators Kirsten Gillibrand and Cynthia Lummis have already completed work on.

According to Saylor, if governments tryregulating cryptocurrencies and legally introducing them into various areas of activity, this indicates the acceptance of this asset class. People are beginning to understand that Bitcoin is here to stay and will begin to be used on a global scale.

When asked if Sailor expects furtherthe fall in the value of the first cryptocurrency, and whether MicroStrategy will suffer significant losses after investing in BTC, Saylor responded that the Bitcoin rate will never fall to zero. The flagship cryptocurrency has no choice but to grow to the $1 million mark, the businessman believes. Speaking about the Bitcoin blockchain, Saylor called it a unique network that could not be replicated with the same level of security and adoption, even if it attracted billions of dollars in funding:

“Bitcoin would be worth $500,000 per coin if it were like gold. But it’s obvious that Bitcoin is much better than gold.”

Recently the head of MicroStrategysuggested that short-term volatility in the Bitcoin price is not critical, since this asset is better suited for long-term investments. In May, Saylor called BTC a “safe haven” during economic turmoil and said he would invest all available money into it.