Michael Saylor predicts bitcoin’s collapse by 80%

Сейлор" href="https://noworries.news/biography/majkl-dzh-sejlor/" data-bio-id="3672">Michael Saylor, founder of MicroStrategy, believes that it is unlikely that bitcoin BTC $104,751.00 Bitcoin -2.47% Market capitalization $2.07 trillion VOL. 24 hours $3.44 billion will fall by 80% in the current market cycle. In a conversation with Yahoo Finance, he emphasized that the market has changed significantly since the last «crypto winter» when the value of bitcoin fell from $ 66,000 to $ 16,000.

Sailor noted that institutional investors now play a major role in the market, rather than retail traders as before. In addition, he said, such a drop would require the presence of financially weak companies, such as FTX, Genesis, or Celsius, which have already collapsed.

Despite the volatility, Saylor continues to consider bitcoin BTC $104,751.00 Bitcoin -2.47% Market capitalization $2.07 trillion VOL. 24 hours $3.44 billion the most promising asset and predicts that it will become «the most valuable in the world in the next 100 years.» MicroStrategy regularly buys the main cryptocurrency, which, according to the entrepreneur, brings profit to the company’s shareholders. MicroStrategy’s current bitcoin reserve is 402,100 BTC.

Saylor also stated that the US national reserve in bitcoin could be a significant economic advantage for the country. This, in his opinion, would stimulate similar actions by other states and attract financial flows to the United States. However, this idea has caused controversy: former U.S. Treasury Secretary Lawrence Summers called the creation of a national reserve in cryptocurrency «insanity.»