Bitcoin, the most prominent cryptocurrency, has grown in popularity in recent years, with many investors using it as a store of wealth and a hedge against inflation. Michael Saylor, CEO of MicroStrategy, a business analytics company that has collected a significant quantity of Bitcoin in recent years, is one such investor.
Saylor considers Bitcoin to be the ultimate digital scarcity network and the most trustworthy cryptocurrency asset. He has been an outspoken supporter of Bitcoin, pushing it as a safe-haven asset in the face of inflation and banking sector difficulties. According to Saylor, the current financial sector crisis in the United States, combined with the crypto industry's crackdown, has been driving up Bitcoin prices.
Saylor sees Bitcoin as a virtual bank with no counterparty risks or management team. It is a protocol that operates without human interaction, making it impervious to corruption or mismanagement. Saylor believes that when more institutional investors realise that the banking industry and fiat system are unsustainable, a significant rush of money will pour towards Bitcoin.
MicroStrategy has consistently increased its Bitcoin holdings, purchasing over 140,000 Bitcoin for nearly $4.17 billion at an average price of $29,803 per Bitcoin. Despite the cryptocurrency's volatility, Saylor remains adamant that holding on to it is the winning technique for investing in it.
Saylor's opinions on Bitcoin have been validated by the cryptocurrency's performance in recent years. Despite multiple price adjustments, Bitcoin has remained resilient and has increased in value. This has resulted in a surge in cryptocurrency interest, with many investors trying to diversify their portfolios and hedge against inflation.
Finally, Michael Saylor's promotion of Bitcoin as the ultimate digital scarcity network has been critical in increasing its adoption and value. Many investors are gravitating to Bitcoin as a safe-haven asset as a result of his opinions on the current banking sector crisis and the crackdown on the crypto business. While the cryptocurrency's volatility continues to be a source of concern for some, its performance in recent years has demonstrated that holding on to it can be a profitable investment strategy. Bitcoin's value is projected to rise as more institutional investors adopt it, making it an appealing investment choice for individuals trying to diversify their portfolios.
Source:
Let's Talk Crypto, 4 May 2023, "Michael Saylor: BITCOIN BULL RUN Is Under Way",