Bitcoin superbull and microstrategy co-founder and executive chairman Michael Thaler reiterated on Monday that bitcoin will one day reach $1 million.
"There's a lot of uncertainty about the rest of the crypto ecosystem, but one thing we can count on is how Bitcoin BTC USD evolves in 2024," Saylor said in an interview. ”
"The strategies built around Bitcoin are generally fairly safe for institutions," Saylor said. ”
He also discussed the new rules announced by the Financial Accounting Standards Board (FASB) that require companies to account for cryptocurrencies such as Bitcoin at fair value.
He Thaler welcomed this because he believes it will bring more transparency and clarity to companies that hold Bitcoin and sees it as an opportunity for listed companies to invest in Bitcoin as a legitimate reserve asset.
"Bitcoin represents the digital transformation of capital, 99 percent of the world," he said9% of the capital is in real estate, bonds and bonds. This is a transformation of the point 1%. As people learn more about digital assets, they realize that more and more money should be allocated to digital assets. ”
When asked about the recent growth of bitcoin (56% since the beginning of October), Thaler said: "As long as bitcoin doesn't go to zero, it will go up to $1 million." ”
Regarding the impact of the upcoming Bitcoin spot ETF news on **, Thaler added: "The news of this ETF is good news. Monetary policy easing is good news. Inflation around the world drives Bitcoin adoption. Of course, the halving will halve the amount of Bitcoin miners have. So over the next 6 months, we're going to see a series of very optimistic milestones where I think smart money is being invested ahead of schedule. ”
Microstrategy, led by Thaler, began investing in Bitcoin in August 2020. At the end of November, the company held 174,530 BTC, at a cost of about $52$800 million, an average of $30,252 each.
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