As a seasoned researcher with a penchant for disruptive technologies and market trends, I find myself intrigued by Michael Saylor’s perspective on Bitcoin. His life experiences, particularly his role as the co-founder of MicroStrategy, have undoubtedly shaped his insights into the digital currency landscape.
14th November saw Michael Saylor, the co-founder and executive chairman of MicroStrategy (Nasdaq: MSTR), participate in a conversation with Morgan Brennan from CNBC, during the Caner Crypto, Digital Assets, and AI Infrastructure Conference in Miami. The dialogue commenced with Brennan inquiring about the recent increase in Bitcoin‘s value, probing Saylor on whether this rise was due to speculation surrounding the impact of the new U.S. administration on cryptocurrency.
Straightaway, Saylor conceded that the recent “Red Wave” in politics has been a substantial change for Bitcoin. He contended that the new political leadership was the most advantageous event for the cryptocurrency market over the past four years. As Saylor saw it, this political shift, along with endorsements from Wall Street heavyweights like BlackRock, has made conditions more conducive to Bitcoin’s value proposition.
MicroStrategy has unveiled plans to gather approximately $42 billion to buy additional Bitcoins, which is equivalent to acquiring all Bitcoins mined within the next three years if each coin costs $85,000 or more. This move underscores MicroStrategy’s dedication to their Bitcoin-oriented investment philosophy and showcases their conviction in the persisting bullish trends of the market.
Later on, the discussion shifted towards regulatory topics, specifically focusing on the possibility of a fresh SEC Chair being appointed by the new U.S. administration. Saylor emphasized that Bitcoin is classified as a commodity, but other cryptocurrencies and related businesses like MicroStrategy fall under the purview of the SEC. He pointed out that the selection of a new SEC Chair plays a crucial role in determining the future direction of digital assets legislation.
Saylor anticipates the incoming SEC Chair to align more closely with Bitcoin-friendly and business-favorable policies. He envisions a digital assets framework that could mark the end of the “cryptocurrency war,” providing greater clarity in the regulatory environment. Additionally, he notes that the recent political shift in the U.S., where the House, Senate, and White House all lean towards pro-crypto sentiments, is promising for the industry’s future. Nevertheless, Saylor does not predict naming any candidates for the new SEC leadership at this time.
Speaking about Bitcoin’s ongoing surge, MicroStrategy CEO Michael Saylor remains optimistic that this upward trend will persist rather than ending soon. He argues that the cryptocurrency is unlikely to drop below significant thresholds like $60,000 or even $30,000. Instead, he anticipates Bitcoin could climb further, potentially surpassing $100,000 before 2021 comes to a close. In the event that Bitcoin achieves this milestone, Saylor has suggested organizing a New Year’s Eve party as a celebration of this monumental achievement.
When asked about possible dangers that might cause Bitcoin’s value to drop, Saylor played down any substantial hazards. He suggested that the main uncertainty had been addressed by the outcomes of the November 5th elections. In his opinion, the political environment is now stable, with newly elected officials showing strong backing for digital assets. Consequently, he doesn’t foresee any immediate issues that could disrupt Bitcoin’s current upward trend.
The final topic of discussion revolved around the idea of a strategic Bitcoin reserve for the United States, which has been proposed by Senator Cynthia Lummis of Wyoming. Saylor drew parallels between this initiative and historical acquisitions by the U.S., such as the purchase of Manhattan, the Louisiana Territory, California, and Alaska. He argued that just as these acquisitions expanded the U.S.’s influence in the physical world, acquiring Bitcoin would establish American dominance in cyberspace.
As a researcher, I advocate for the strategic implementation of a Bitcoin reserve as a means to safeguard America’s dominance in the digital financial landscape. By amassing a substantial amount of Bitcoin, our nation could preserve its economic supremacy on a global scale. Based on my calculations, such an approach could potentially neutralize $16 trillion of our national debt, making it not only a strategic move but also an economically prudent decision.
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2024-11-15 12:37