The CEO of Microstrategy states that bitcoin will become a $100 trillion asset class and, in the future, will grow 100X from where it currently is. He says the crypto is winning versus gold as a store of value and he isn’t worried about regulation. “I am not at all troubled with all the regulations that are going on right now.”
Gold is losing, Bitcoin Is Winning, as Store of Value
Michael Saylor, the CEO of Microstrategy discussed the future outlook for BTC in an interview with CNBC. He mentioned the institutional adoption of BTC, market volatility, crypto regulation, gold versus bitcoin, and Bitcoin as the world’s safe-haven investment and dominant digital asset.
Today, His company hodls 114,042 Bitcoin. He was asked whether he will keep stacking BTC at the today’s price or wait for another pullback. He responded: “We are going to stack Bitcoin forever.”
On the topic of BTC vs. gold, Saylor was asked if he thinks “BTC will replace, has replaced, or is in the process of replacing gold as the current store of value for most investors.” Mentioning the advantages of BTC over gold, such as how easy it is to transfer the coins and the small storage cost, he said:
“It is pretty clear that BTC is winning, and gold is losing … and it is going to continue to be this way… It is pretty clear gold is going to be replaced by digital gold this decade.”
The pro-bitcoin Microstrategy boss also noted that the cryptocurrency regulation that is being talked about in Washington will “have an effect on decentralized finance exchanges, security tokens, crypto exchanges, and all the other use cases of cryptocurrency that are not bitcoin.”
‘Unstoppable’ — Bitcoin will 100x increase and Become $100 Trillion Asset Class
Saylor also said that if BTC doubles every year, then:
“By the end of the decade it will have surpassed gold, and then it will flip a little bit of equity, a little bit of bonds, a little bit of real estate, monetary indexes and become a $100 trillion asset class. I believe it will be 100X of where it currently is right now.”
Lastly, Saylor was asked how nations will react to the situation he described and whether BTC is unstoppable or whether it will depend on governments. He affirmed:
“I believe BTC cannot be stopped as digital property.”
He continued to explain that there will be 3 classes of nations. The communist nations, such as North Korea, “won’t give you property rights” and “won’t let you own anything,” he explained, adding that “They’ll probably ban it.”
The second category includes countries with weaker currencies. They “will have capital controls. They will allow you own it, but they do not want you to trade it or exchange it,” Saylor noted. He also pointed out: “It is not illegal to own BTC in China. They just do not want you to re-locate billions of dollars out of their economy.”
The third category contains western countries that have stronger currencies, like the United States dollar. “Of course, it is going to be considered property,” Saylor stated. “You will have to pay tax on capital gains when you sell it.”
Author: Steven Sinclaire
