Michael Saylor, founder of software company MicroStrategy, announced the formula that will bring a 10-fold rise for Bitcoin (BTC).
Speaking to CNBC on November 2, Bitcoin supporter and investor Michael Saylor touched on factors that could send Bitcoin up 10-fold. Saylor focuses on what he calls near- and medium-term catalysts. 3 important examples gave clarification.
Firstly, in April 2024 will happen Bitcoin halving Stating that it will lead to a significant change in market dynamics, the founder stated that there will be a serious decrease in miners’ Bitcoin sales.
Currently, in order to continue its activities, $12 billion in sales After the halving, miners 6 billion dollars will start selling and this will sales pressure He argued that it would significantly reduce:
You will see that $12 billion in natural sales per year turns into $6 billion in natural sales per year. This will pave the way for Bitcoin.
Saylor continued his speech by discussing the coming developments for Bitcoin in the USA. new rules He mentioned the chain. The USA will soon allow companies to hold Bitcoin assets with fair value accounting Reminding that he will switch to new rules that he can report, the experienced name said that this situation will be more shareholder He stated that he would:
In the long term, these rules will open the door for companies to embrace Bitcoin as a treasury asset and create shareholder value through their balance sheets.
Finally, the cryptocurrency industry’sadult supervisionSaylor noted that the sector will become a healthier and more consistent place by being reunited with others over time. with shitcoins Stop trying and follow the lead of Bitcoin to a more advanced level He said he would pass:
For the industry to move to the next level, we need to move to adult supervision. 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.
MicroStrategy published on November 1 3rd quarter in total in the balance sheet report 158,400 BTC has an investment and from this investment 889 million dollars in profit He showed that he was.