While the effects of the Russia-Ukraine war continue Bitcoin (BTC) Turbulent price movements continue to persist.
Frequently on the agenda with heavy BTC purchases Michael Saylor, CEO of MicroStrategy On the other hand, he believes that BTC is a risk-free asset with its limited number.
A scarcity is preferable to a commodity or security.https://t.co/kUPLn99IId
— Michael Saylor⚡️ (@saylor) March 9, 2022
“A scarce number of assets is preferable to a commodity or security.” Defending his view, Saylor stated that Bitcoin is probably the only known scarcity in the world.
Stating that everything else, including gold and real estate, is reproducible given enough money and time, the famous CEO said that the digital token is “magical”.
Bitcoin Price Action and Analysts Beliefs
Bitcoin price has gained over 420% since January 2020. However, it has not been able to achieve a certain upward stability for a while. Although it has a strong correlation with stocks, many argue that Bitcoin acts as a hedge against inflation.
On the other hand, BTC, which acts as a strong shelter for both sides in the Russia-Ukraine war, may undoubtedly be the asset that benefits the most from the conflict environment. Experts believe that the aforementioned environment can increase the adoption of Bitcoin among users. Because right now, there are all kinds of “story” necessary for Bitcoin to make an incredible rise.