Morale has begun to recover in the cryptocurrency market. Leading cryptocurrency Bitcoin continues to probe above $35,000 to advance. Meanwhile, the involvement of giant corporate companies increases the motivation of market players. In this environment, predictions for BTC are floating in the air. The famous manager of MicroStrategy, who was revealed to continue buying BTC, also joined this prediction caravan.
“You can never have too much Bitcoin (BTC)!”
cryptokoin.comAs you follow from , the market has gained new momentum. Now he is trying to maintain and increase it. “For the industry to move to the next level, we need to move to adult supervision,” says MicroStrategy’s chairman. Making a statement a day after his company MicroStrategy announced its third quarter earnings, Michael Saylor said: “You can never have too much Bitcoin (BTC)!” He underlines that the BTC supply is limited. It’s not exactly breaking news that Saylor is a BTC bull. But he points out a number of specific near- and medium-term catalysts.
The first of these is that, along with the increase in demand, there will soon be a large decrease in supply. Saylor says Bitcoin miners need to sell BTC to keep their lights on. He also notes that these sales are currently around $1 billion per month. But the halving, expected to occur in April 2024, means miners will soon only have half of that to sell. Based on this, Saylor says, “You will see that the natural sales of $12 billion a year turn into natural sales of $6 billion a year.” At the same time, he notes that spot Bitcoin ETFs will be a source of increased buying pressure.
““We will see a 10X price for BTC when this happens!”
Second, there will soon be new rules implementing fair value accounting for company Bitcoin assets. “In the long run, this will open the door for companies to embrace BTC as a treasury asset and create shareholder value through their balance sheets,” Saylor said. says. Finally, Saylor looks into the fraud case of former crypto great Sam Bankman-Fried. He’s talking about the current news cycle, including this one. “The early crypto cowboys, crypto tokens that were unregistered securities, unreliable crypto custodians, were a liability for Bitcoin.” he argues. In this context, Saylor comments:
For the industry to move to the next level, we need to move to adult supervision. We need to move away from the 100,000 crypto tokens that people have manipulated into Bitcoin. Once the industry takes its eyes off the shiny little tokens that distract and destroy shareholder value, I think the industry will move to the next level and we will grow 10x from here.
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