Bitcoin evangelist Saylor explained on CNBC how he will beat gold by supporting Bitcoin. He also suggested that the leading cryptocurrency will rise further. Meanwhile, another BTC maxi, Max Keiser, increased his upper target to $750k.
Saylor expects Bitcoin’s popularity to increase!
MicroStrategy founder and former CEO Michael Saylor, who is now responsible for the company’s BTC strategy, spoke with CNBC’s Squawk Box host about Bitcoin, its strengths, and other prospects in the financial world. Saylor also explained why MicroStrategy will continue to buy BTC. Additionally, he stated that it will continue to compete with spot Bitcoin ETFs such as BlackRock.
Michael Saylor shared his vision for future institutional adoption of Bitcoin with host Andrew Sorkin. Saylor said that compared to gold, BTC is much more progressive. He also stated that transactions can be made to the other side of the world within a few minutes. Moreover, he claimed that it has all the good features of BTC and has no flaws. Based on this, Saylor said, “Bitcoin will swallow gold!” said. According to Saylor, Bitcoin will divert funds away from gold and other risky assets like SPY and ETFs.
MicroStrategy surpasses BlackRock in Bitcoin holdings
cryptokoin.comAs you follow from , MicroStrategy received another 12,000 BTC worth approximately $821.7 million. Thus, it surpassed BlackRock’s largest spot Bitcoin ETF. Currently, MicroStrategy holds a total of 205,000 BTC compared to BlackRock’s 195,985.31 BTC.
Spot Bitcoin ETFs are accumulating more and more BTC. This provides investors with the opportunity to invest in this new asset class. Saylor believes MicroStrategy can successfully compete with them while remaining a proxy for BTC. This is because MicroStrategy purchased a large portion of its Bitcoin using convertible debt while selling shares to its investors and raising money to purchase BTC. Therefore, while these investors earn investment returns on shares, those who invest in Bitcoin through ETFs have to pay a monthly fee.
Bitcoin hovers above $72,000!
Earlier today, BTC surpassed its all-time high of $71,000. It later climbed above the $72,000 level before pulling back slightly. However, it regained strength and recorded a new ATH of $72,709. Bitcoin maximalist Max Keiser reminded the cryptocurrency community of his earlier prediction that Bitcoin would eventually reach $220,000. Keizer also stated today that he raised his upper target for this bull cycle to $750,000.
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