Largest Corporate Holder of Bitcoin Predicts a Single Coin to Be Worth 'Millions'
- On Thursday, MicroStrategy CEO Michael Saylor said during a video interview with Yahoo! Finance Live that he expects a single Bitcoin will be worth millions one day and the current crypto decline has not changed his mind that Bitcoin is "the apex asset."
- Based on regulatory disclosures this past December, MicroStrategy is the largest corporate holder of Bitcoin with 122,478 coins on its balance sheet.
CEO of MicroStrategy, Michael Saylor, said in a broadcast interview that the current crypto winter will accelerate crypto regulation and showcase Bitcoin's digital supremacy.
During a Thursday video interview with Yahoo! Finance Live, MicroStrategy CEO Michael Saylor said that he believes that a single Bitcoin will be worth millions one day. He further stated that his strategy is not to sell and take profits on Bitcoin at any point in the future. "Our strategy is to buy Bitcoin and hold Bitcoin. There's no price target. I expect we'll be buying Bitcoin at the local top forever. And I expect Bitcoin is going to go into the millions. So we're very patient. We think it's the future of money," Saylor went on to say.
Saylor has been an ardent Bitcoin (BTC) bull for years, ensuring that his company puts its money where his mouth is. Based on regulatory filings in December 2021, MicroStrategy's total number of Bitcoin owned is 122,478 coins, making MicroStrategy the largest corporate owner of Bitcoin in the world that's not a cryptocurrency exchange. The number of Bitcoin that MicroStrategy holds is more than triple the amount held by the next closest corporate investor, Tesla, which reportedly has 38,300 Bitcoin within its corporate treasury.
Not only did Saylor praise Bitcoin as the best investment asset, he predicts that Bitcoin will be a premier method of financial exchange when coupled with the Lightning Network, which facilitates thousands of speedy BTC transactions at once on a global scale. "It's pretty clear that Bitcoin is the future of money, and that Lightning is the future of payment. If you're going to do payments and transactions at high-speed, you're going to need a base layer that's ethically sound, economically sound, and technically sound -- and that's what Bitcoin is," Saylor said during the video interview.
Saylor says regulation is coming and crypto needs it
Even though Bitcoin is currently trading at a 50% discount compared to its peak price of $69,000 last November, Saylor says he's not worried a bit. In fact, he says Bitcoin will ultimately benefit from this latest crypto winter, triggered by the collapse of Terra (LUNA) and its companion stablecoin TerraUSD (UST), because the deep drop across the sector serves as a hard-knocks education for crypto investors and a wakeup call to regulators, "What's going to happen is an entire generation of crypto people are going to get educated on why Bitcoin is the superior asset. And then a bunch of regulators are going to accelerate their regulation of stablecoins and accelerate their regulation of securities-crypto tokens. The winner of that entire exercise is Bitcoin," he said.
According to CoinMarketCap at time of writing, Bitcoin was trading up 3.24% at $30,304.18 per coin.
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