Bitcoin Magazine
Michael Saylor: The Bear Market Is Not Coming Back And Bitcoin Is Going To $1 Million
Today, the Executive Chairman and CEO of Strategy Michael Saylor talked about the business’s aggressive Bitcoin-based method in a current interview at Bloomberg, highlighting that Bitcoin is not going to absolutely no, it is going to $1 million.
“I think we’re in a digital gold rush and you’ve got ten years to acquire all your bitcoin before there’s no bitcoin left for you,” Saylor stated. “The competition is a virtuous competition.”
SIMPLY IN: Michael Saylor stated the bearishness is not returning and Bitcoin is going to $1 million
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Saylor also stated that Bitcoin is not going to have bearish market any longer and the rate is going to $1 million per coin.
“Winter is not coming back,” commented Sayor. “We are past that phase. If Bitcoin is not going to zero, it is going to $1 million. The President of the United States is determined. He supports Bitcoin, the cabinet supports Bitcoin, Scott Bessent supports Bitcoin, Paul Atkins is shown himself to be an enthusiastic believer of Bitcoin and digital assets… Bitcoin has gotten through its riskiest period.”
He also mentioned that global companies are quickly getting in the area.
“Metaplanet is the hottest company in Japan right now, they went from $10 million to a $1 billion market cap to a $5 billion market cap. They’re going to raise billions of dollars. They’re going to pull the liquidity out of the Japanese market. So they’ll be raising capital in Tokyo and the Tokyo Stock Exchange… It’s not competitive. It’s cooperative.”
Strategy’s technique is far from conventional. The business is not simply purchasing and holding Bitcoin; it is developing monetary instruments around it, which Saylor thinks sets them apart.
“Our company has a very particular business model,” he mentioned. “It’s to issue Bitcoin-backed credit instruments like Bitcoin-backed bonds and especially Bitcoin-backed preferred stocks. We’re the only company in the world that’s ever been able to issue a preferred stock backed by Bitcoin. We’ve done three of them in the past five months.”
Rather than seeing Bitcoin treasury holdings or ETFs as rivals, Saylor described that Strategy is targeting a various section of the marketplace completely.
“We’re not competing against the Bitcoin treasury companies. We’re competing against ETFs like PFF that have portafolios of preferred stocks or corporate bond portfolios that are trading as ETFs in the public market, and the way we compete is we offer 400 basis points more yield on an instrument that is much more heavily collateralized and more transparent… That’s $100 trillion or more of capital in those markets,” described Saylor.
He highlighted that Strategy’s Bitcoin balance sheet provides it a unique edge, providing the business the capability to create special monetary items.
“Our advantage is that we’re 100% Bitcoin… It’s impossible to issue Bitcoin-backed convertible preferred and Bitcoin-backed fixed preferred unless you’re willing to make 100% of your balance sheet Bitcoin.”
“I’m not really worried about competition from JPMorgan or Berkshire Hathaway,” concluded Saylor. “I would love for them to enter the Bitcoin space, buy up a bunch of Bitcoin. When they do it, they’ll be paying $1,000,000 a Bitcoin. The price will go to the moon.”
This post Michael Saylor: The Bear Market Is Not Coming Back And Bitcoin Is Going To $1 Million initially appeared on Bitcoin Magazine and is composed by Oscar Zarraga Perez.
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