Microstrategy CEO Expects Bitcoin to ‘Go Into the Millions’ Despite Crypto Market Sell-Off

Microstrategy’s CEO has predicted that bitcoin is “going to go into the millions” despite the recent cryptocurrency market sell-off. Noting that the cryptocurrency is the future of money, he said: “We are in it for the long term.”

The CEO of the Nasdaq-listed software company Microstrategy, Michael Saylor, shared his bitcoin outlook Thursday in an interview with Yahoo Finance Live.

“No,” the CEO replied, emphasizing, “we are in it for the long term.” He elaborated: “Our strategy is to buy bitcoin and hold the bitcoin, so there’s no price target. I expect we’ll be buying bitcoin at the local top forever.” He continued:

I expect bitcoin is going to go into the millions. So, we’re very patient. We think it’s the future of money.

Commenting on cryptocurrency regulation, he noted that “There’s been a deadlock in D.C. and on Capitol Hill around stablecoin regulations and around securities token regulations.” Saylor added that “the Administration wants to move faster” but “Congress is moving slower.”

The Microstrategy chief opined:

I think this meltdown of LUNA, UST, that’s going to accelerate the regulations of stablecoins and security tokens, which will be a good thing for the industry.

“Over time, I think as people get educated and as they get more comfortable, I think we’ll recover from this drawdown,” he concluded.

What do you think about the comments by Microstrategy’s CEO? Let us know in the comments section below.

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