Bitcoin is the first successful internet money based on peer-to-peer technology; whereby no central bank or authority is involved in the transaction and production of the Bitcoin currency. It was created by an anonymous individual/group under the name, Satoshi Nakamoto. The source code is available publicly as an open source project, anybody can look at it and be part of the developmental process.
According to the CEO of MicroStrategy, Michael Saylor, Bitcoin the biggest and most popular cryptocurrency in the world. It is a decentralized digital currency that enables users to make trustless peer-to-peer transactions. does not go to zero, so it goes to USD $1 million. He explained to CNBC why.
- Michael Saylor believes Bitcoin will not go to zero
- He also thinks he’s on his way to USD $1 million.
- Says BTC would cost USD $500,000 if it were like gold
The CEO of MicroStrategy, Michael Saylor, has never wavered from his positive perception of the price of Bitcoin which is why he has repeatedly said he will never sell his crypto holdings. Your company is not only the institution with the largest investment in BTC, but that he has become something of a promoter of the goodness of the leading cryptocurrency, which he believes in despite its current downfall.
A few hours ago, Saylor shared via Twitter an interview with Squawk Box CNBC in which he states that he remains optimistic about Bitcoin. There he assured that Bitcoin -despite the current low, when it is worth less than half its maximum price-. “it’s not going to zero, so it’s going to USD $1 million.” It also tells us why.
Here you can watch the interview, shared by Saylor himself:
— Michael Saylor⚡️ (@saylor) June 8, 2022
Cannot be replicated
Saylor adds why he doesn’t think Bitcoin se desplome.Aadded that Bitcoin is a unique blockchain a distributed ledger system. A sequence of blocks, or units of digital information, stored consecutively in a public database. The basis for cryptocurrencies. that cannot be replicated, even if it provided $5 billion instantly to sponsor the creation of a similar network a network refers to all nodes in the operation of a blockchain at any given moment in time. that would have the same level of security the term securities refers to a fungible and tradable financial instrument that carries a type of monetary value. and adoption.
When asked if he expected Bitcoin cayera aún más y que MicroStrategy suffered significant losses following its massive investment in BTC (has more than 129,000 bitcoins ), Michael Saylor said he doesn’t think the flagship cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. will fall to zero.
In this regard, he stated that both the skeptics and the denialists Bitcoin have been mistaken, for governments have not banned the Bitcoin and are looking for ways to adopt and regulate it. Therefore, he assures that cryptocurrency is certainly not going to zero. And if it doesn’t go to zero, Saylor insists, then it goes to the million-dollar price mark.
He also added that Bitcoin es “obviously better than gold and everything gold wants to be.” For that reason, he says that if BTC worth only what gold is worth , “Bitcoin would be worth five hundred thousand dollars per coin.”
Also in another tweet yesterday he shows a chart that reveals the reasons for his optimism with the price going forward, if you look at how it has increased for several years:
The best #bitcoin price signal signals are a call to action to either buy or sell an asset. for technocrats or maximalists is the 4-year simple moving average.
— Michael Saylor⚡️ (@saylor) June 7, 2022
About the crypto bill
In addition, Saylor named two recent factors that he believes give him great support the opposite of Resistance, it is a threshold that crypto’s price doesn’t fall below. from Bitcoin. One is Treasury Secretary Janet Yellen’s speech at American University on April 7. In that speech, Yellen explained that digital digital technologies are these electronic tools that have the ability to generate, store or even process data. assets are crucial to America’s future.
The other reason is more recent: the cryptocurrency bill introduced yesterday before the U.S. Congress by Senators Kirsten Gillibrand and Cynthia Lummis, believing that a law gives her more legitimacy (you can read here the official version of the project ).
This is what he wrote in Twitter on the congresswomen’s initiative:
One day everyone will realize that #bitcoin is a wonderful idea, thanks to the efforts of @SenLummis and @SenGillibrand.
— Michael Saylor⚡️ (@saylor) June 7, 2022
Based on this, Saylor believes, people are now beginning to realise that Bitcoin is here to stay and its adoption is expanding.
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Ilustración de Nicole Leon/ DiarioBitcoin