Michael Saylor: “Bitcoin will either fall to zero or skyrocket to $1 million”

MicroStrategy founder Michael Saylor made a two-pronged prediction for Bitcoin: either it will go to zero, or it will skyrocket to $1 million and become a large “institutional” asset. Speaking on CNBC, Michael Saylor called Bitcoin an asset that could change investment strategies around the world. Reaching the $1 million mark depends on the legitimacy of Bitcoin and the demand for it among large companies, Saylor explained. If the first cryptocurrency continues to gain the trust of financial institutions, its rate will grow rapidly. Saylor emphasized that Bitcoin has unique advantages as a digital asset: its decentralized nature, limited supply of 21 million coins and growing adoption worldwide. The MicroStrategy founder admitted that his “zero or million” forecast highlights the volatility inherent in the cryptocurrency market. He noted that now most institutions underestimate Bitcoin. And if it is on track to become a staple asset in institutional portfolios, then current investments in Bitcoin are not enough. However, more institutions are beginning to change their investment strategies, seeking to increase exposure to Bitcoin in anticipation of long-term growth. "If Bitcoin doesn't go to zero, it's going to hit $1 million. If it's a legitimate asset for institutional investors, it's not getting enough attention," Saylor said. Previously, the founder of MicroStrategy said that Bitcoin exchange-traded funds (ETFs) are more profitable for investors compared to Bitcoin futures ETFs. He suggested that if cryptocurrency ETFs are approved in the United States, trillions of dollars will flow into them. In November, MicroStrategy bought another 155 BTC worth $5.3 million, proving the company's bullish stance on Bitcoin.

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