Billionaire Bill Ackman is in a state of economic collapse Bitcoin The potential of may be unlimited in your opinion. He shared these thoughts on social media platform
Ackman stated that an increase in the BTC price will increase mining activities and therefore lead to more energy use, which will increase energy costs, increase inflation and reduce the value of the dollar. He suggested that this could create a cycle by increasing demand for Bitcoin and mining activities. According to this cycle, the price of Bitcoin continues to rise indefinitely, while energy prices increase and may eventually lead to the collapse of the economy.
However, responding to Ackman’s sentiment, Michael Saylor, a long-time Bitcoin supporter and current executive chairman of software development firm MicroStrategy, stated that Ackman is right to want to accumulate Bitcoin, but may be off the mark regarding its impact on electricity prices. Saylor stated that Bitcoin’s energy efficiency will increase and could reduce energy costs, so concerns that Bitcoin could lead to an economic collapse may be exaggerated.
Michael Saylor responds to Ackman, stating that the reasons for buying Bitcoin are different from the reasons Ackman puts forward. According to Saylor, most Bitcoin miners do not increase the cost of electricity for other consumers, but rather reduce it. Saylor emphasizes that energy costs may decrease as Bitcoin’s energy efficiency increases, and suggests that concerns that Bitcoin will therefore lead to the risk of economic collapse may be unnecessary. He also states that his door is open to those who want to meet one-on-one.
At the time of writing this news, the price of Bitcoin is trading at $71,691 and has decreased by 1.25% in the last 24 hours.
It is known that Ackman changed his stance on digital assets in November 2022. At that time, billionaire crypto- He stated that the ability of its assets to be used fraudulently questions the overall validity of the asset class. However, he says he later realized that decentralized wireless network Helium (HNT) crypto assets could have intrinsic value. This shows that Ackman’s perspective on crypto assets is evolving and he is starting to see the potential of certain projects.
