Microstrategy CEO Expects Bitcoin to ‘Go Into the Millions’ Despite Crypto Market Sell-Off

Bitcoin

Microstrategy’s CEO has predicted that bitcoin is “going to go into the millions” despite the recent cryptocurrency market sell-off. Noting that the cryptocurrency is the future of money, he said: “We are in it for the long term.”

Microstrategy sees Bitcoin as the future of money

The CEO of Nasdaq-listed software company Microstrategy, Michael Saylor, shared his outlook on bitcoin on Thursday in an interview with Yahoo Finance Live.

The executive is still bullish on bitcoin despite the recent sell-off. He was asked whether there is a price target at which Microstrategy will start liquidating some of its bitcoins. The company is currently hodling 129,218 BTC.

“No,” replied the CEO, emphasizing, “we’re here for the long haul.” He clarified, “Our strategy is to buy bitcoin and hold it, so there is no price target. I expect us to buy bitcoin at the local top forever. He continued:

I expect bitcoin is going to go into the millions. So, we’re very patient. We think it’s the future of money.

Commenting on cryptocurrency regulation, he noted that “there has been an impasse in DC and Capitol Hill regarding stablecoin regulation and securities token regulation.” Saylor added that “the administration wants to move faster” but “Congress is moving more slowly.”

The Microstrategy chief opined:

I think this meltdown of LUNA, UST, that’s going to accelerate the regulations of stablecoins and security tokens, which will be a good thing for the industry.

“Over time, I think as people become more educated and more comfortable, I think we will recover from this withdrawal,” he concluded.

Saylor has long been bullish on bitcoin. In February, he said there’s evidence of a lot more institutional adoption. In November last year, he said bitcoin will emerge as a $100 trillion asset class.

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