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Bitcoin continues to make headlines. While some are predicting significant swings, Michael Saylor, founder of MicroStrategy and staunch supporter of Bitcoin, remains unwaveringly optimistic about its future. But what is driving this confidence and why do they think Bitcoin will not see a decline in 2024?
Michael Saylor predicts the unstoppable growth of Bitcoin
Michael Saylor is not one to mince words. According to him, Bitcoin will not return to lower price levels like $60,000 or even $30,000.
On the contrary, he expects the cryptocurrency to continue to rise. “I don’t think bitcoin will hit $60,000 or $30,000 again,” he said in a recent interview with CNBC. “I think we’ll go up from here. »
Saylor even goes so far as to plan a celebration for the major milestone. “I’m planning a $100,000 party,” he announced excitedly.
“I would be surprised if we don’t cross $100,000 by the end of 2024.” For him, the $100,000 mark is not just speculation, but an immediate step in the evolution of Bitcoin.
He attributes this confidence to recent changes in the political scene. “The victory of certain political leaders has decided the future of crypto and bitcoin in the United States in a very decisive way,” he said. “I don’t really see any threats in the short term. » For Saylor, the political winds are blowing in Bitcoin’s favor and strengthening its position on the global stage.
Factors supporting Saylor’s optimistic view
One key element of Michael Saylor’s optimism is the proposed Bitcoin Strategic Reserve Act in the United States.
This bill, if passed, would set a goal for the US government to accumulate one million bitcoins over five years, or about 5% of the total supply.
Saylor considers the initiative “the biggest deal of the 21st century.” This, he said, could bring trillions of dollars to the American economy. “If we pass this bill as currently written, it will be a $16 trillion benefit to the United States over 21 years,” he said.
In addition, Saylor welcomes the prospect of a clearer and more supportive regulatory environment. “We’re going to see a lot more pro-Bitcoin policies,” he predicted. “We will see a framework for digital assets and we will see the end of the war against cryptocurrencies. » He believes these regulatory developments will drive bitcoin adoption and encourage institutional investors to join the dance.
Finally, the growing adoption of Bitcoin by financial institutions is boosting its trust. With companies like MicroStrategy investing heavily in Bitcoin, institutional demand continues to grow. “Any purchase will increase purchasing power,” said financial analyst Rajat Soni, who echoes Saylor’s sentiments. This momentum could propel Bitcoin to new heights, supported by renewed investor confidence.
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Fascinated by Bitcoin since 2017, Evariste continued to research the topic. If his first interest was trading, now he is actively trying to understand all the developments focused on cryptocurrencies. As an editor, he strives to consistently deliver high-quality work that reflects the state of the industry as a whole.
DISCLAIMER OF LIABILITY
The comments and opinions expressed in this article are solely those of the author and should not be considered investment advice. Before making any investment decision, do your own research.
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