As per reports published this week, MicroStrategy’s investing strategies remain unchanged despite the drop in the value of BTC.
Along with BTC, which was trading approximately 5% higher, MicroStrategy saw a significant increase of over 10% on Thursday. This occurred even when the S&P 500 was battling to remain flat.
Despite the recent decrease in market value, it is clear that Saylor does not have any reservations about Bitcoin. Even though it has been trading at a significant loss since the 29th of March, the firm that provides corporate analytics and cloud-based services has kept 129,218 BTC in its possession.
Saylor Says “The Value Of Bitcoin Will Cross One Million Dollars”
In a live event that took place on Yahoo Finance Live, Michael Saylor indicated that he thinks Bitcoin will become a future currency and that he anticipates its value will one day exceed $1 million.
Saylor noted that no price target had been established. He stated that “It is my expectation that we will always make our purchases of BTC at the local high.” In addition, he also believes that Bitcoin will reach the million-dollar mark.
The billionaire noted that most cryptos had not been registered as securities, which might dissuade prospective investors and harm the asset class. He added that this barrier could be overcome, however, by registering cryptos as securities.
BTC Is the Superior Cryptocurrency
Saylor made the following statement: “Once people grasp why Bitcoin n is better, institutions will invest enormous sums of money.”
Bitcoin, the BTC advocate, stated, has decreased with most risk assets, such as equities, as a result of the Federal Reserve’s efforts to increase the interest rate and investors’ sales of riskier assets.
As per the CEO, this is separate from the devaluation of TerraUSD, which, in his opinion, will hasten the process of regulating stablecoins and also security tokens.
Saylor maintains a bullish outlook on Bitcoin. In February, he made the statement that evidence exists to support major growth in the adoption of the concept among academic institutions. In 2017, he made the prediction that bitcoin will one day represent a class of assets worth $100 trillion.
According to what he had to say, “I think that over the course of time, as people grow more informed and comfortable, we will rebound from this downturn.”
Despite the recent sell-off frenzy driven by unstable Bitcoin prices, MicroStrategy’s new CFO, Andrew Kang, informed Bloomberg the firm has no intentions to sell its BTC assets.