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George Spencer

November 7, 2021

MicroStrategy CEO Thinks Bitcoin Is Going Up Forever

As the price of Bitcoin spikes in the last quarter of the year, Michael Saylor, a popular American entrepreneur and CEO of MicroStrategy, has proposed yet a new outlook on Bitcoin.

At an interview with Squawk On The Street show presenter, the CEO explicitly said that “Bitcoin is going up forever.”

Saylor’s valuation of the king coin follows its ability to stand up tall in the face of several major events that have taken place within the crypto industry. 

Bitcoin’s price had survived China’s crackdown intense on crypto mining, which fueled a massive FUD within the crypto market.

Additionally,  support from the US SEC and the U.S. pioneering the bitcoin mining industry points to a more bullish run to come in the next twelve months.

According to the CEO,  it seems safest to hold a long-term view of the largest cryptocurrency, as it has the potential to become the “hardest,” and strongest store of value in the next ten years.

Over the years Microstrategy has held Bitcoin on high as a store of value and treasure reserve assets, hence Saylor noted that; 

“Bitcoin is emerging  as the world’s reserve digital asset, a long term store of value, and as an inflation hedge.“

Speaking of digital properties as the most desirable asset class, the CEO suggested that, to stay ahead of inflation either as an individual, a family, or an organization, buying into the Bitcoin network would be a smart choice.

In addition, Saylor who had earlier revealed that he personally holds 17, 732 bitcoins, projecting a formula for institutional investors who want to hold cryptocurrency on their balance sheet.

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He tagged it the “MicroStrategy Test.” For him, only Bitcoin passes that test since it can never be banned, copied, or hacked. 

In words and deed, MicroStrategy believes strongly in the king coin. The company has not stopped its Bitcoin purchase despite critics’ argument that it is not a better store of valuable assets.

MicroStrategy is committed to converting most of its cash holdings into bitcoin. In September, the firm topped up its bitcoin tank with yet another purchase of $243 million worth of bitcoin, surpassing the 100k bitcoin milestone.