Microstrategy CEO Foresees the Most Famous Crypto to Hit $6 Million

Microstrategy CEO Foresees the Most Famous Crypto to Hit $6 Million

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10/02/2022 by Koinal
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Microstrategy is a US-based company that provides business intelligence, cloud-based services, and mobile software.
Microstrategy CEO Foresees the Most Famous Crypto to Hit $6 Million.

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According to its claim in a recent presentation, it is one of the world leaders in the field today and the largest corporate bitcoin holder. CEO Michael Saylor was recently interviewed by the Information and shared his strategy and price predictions related to bitcoin.

Michael Saylor said his bitcoin assets are at least 17,732. This is the same as the amount he revealed in October. In the current price value of bitcoin, the number of his assets equals almost $858 million.

The CEO of Microstrategy, Michael Saylor, believes that bitcoins should never be sold. In parallel with his belief, he did not sell even one bitcoin until today. He believes that, despite the fluctuations, bitcoin is on a rising path. The Information, in the interview, stated that “Saylor foresees bitcoin hitting $600,000 a coin, and eventually $6 million”.

Like his personal choice on investing in bitcoin, his company Microstrategy also holds a large amount of bitcoin: The company currently owns 122,478 bitcoin which equals almost $6 billion. In the last days of 2021, the company published the “Investor Day” presentation in which they stated that the average price of one bitcoin was $29,861 at the time of the purchase and the coins were acquired for the basis of the cost of $3.7 billion.

In the company’s own words, Microstrategy is “the largest publicly traded corporate holder of bitcoin in the world and the first public company to adopt bitcoin as a primary treasury reserve asset”. The company’s corporate strategy is to “acquire and hold bitcoin long-term” and “purchase bitcoin through use of excess cash flows, and debt and equity transactions”. In their presentation, the company accepts that bitcoin is still a very tiny fraction of the world’s total assets. However, they demonstrate that the institutional and mainstream perspective on bitcoin adoption has become more optimistic over the last years and state that they will acquire more bitcoin in the following process.

The CEO of Microstrategy, Michael Saylor, has made such claims multiple times in recent months. For example, he said in November that the number-one cryptocurrency in the world is “unstoppable,” and it will “emerge as a $100 trillion asset class”. He also claimed, very recently, that bitcoin will eventually take the place of gold: “Once upon a time, gold was the most desirable store of value. Now bitcoin is taking its place”. What is your take on this price prediction? 

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