MicroStrategy Co-Founder Foresees Bitcoin Value at $10 Million and Predicts China's Full Support
Summary:
MicroStrategy's co-founder, Michael Saylor, advocated for the future of Bitcoin in a recent podcast interview, stating his belief in the cryptocurrency's prospective value of $10 million per coin. Saylor emphasized the potential of Bitcoin as 'perfect money,' equating it with economic immortality. He suggests that Bitcoin's adoption could ensure corporate longevity and even full support from China. Furthermore, he stated that companies investing in Bitcoin could eradicate corporate mortality and significantly increase economic vitality.
Co-founder and Executive Chairman of business intelligence firm MicroStrategy, Michael Saylor recently expressed his strong belief in Bitcoin in an extensive podcast interview, predicting that it would eventually be worth $10 million per coin. One of his more audacious propositions included the full endorsement of Bitcoin by China.
Saylor's interpretation of economics and money was equally bold. He declared 'perfect money' as economically immortal and considered anything less as short-lived and harsh. Extracting from his comments, it's evident that Saylor views Bitcoin as the durable future of money, serving humanity as a mechanism for maintaining corporate longevity.
He postulated this by asking, "What if I said your company could endure eternally?" According to Saylor, Bitcoin has made all economic approaches prior to its arrival outdated. He goes on to express his views on economics before Bitcoin's inventor Satoshi Nakamoto, calling it a pseudoscience filled with biased and opinionated exchanges often driven by seashells, glass beads, credit instruments, and paper pieces.
Saylor's main contention revolved around the idea that firms investing in Bitcoin are more likely to outlive those stuck in traditional corporate stagnation. He states, "The majority of corporations have a lifespan of about a decade. We're addressing the possibility of eradicating corporate mortality and increasing economic vitality by tenfold, and maybe even by a millionfold."
As for the mechanism behind his argument, Saylor had that mapped out too. He confidently stated his belief that the Chinese government and its people would support Bitcoin and predicted that in the foreseeable future, one Bitcoin would be valued at $10 million. Source: Michael Saylor.
MicroStrategy recently concluded an $800 million note offering to acquire further Bitcoin.
Published At
6/23/2024 11:16:00 PM
Disclaimer: Algoine does not endorse any content or product on this page. Readers should conduct their own research before taking any actions related to the asset, company, or any information in this article and assume full responsibility for their decisions. This article should not be considered as investment advice. Our news is prepared with AI support.
Do you suspect this content may be misleading, incomplete, or inappropriate in any way, requiring modification or removal?
We appreciate your report.