© Reuters
Investing.com – Michael Saylor, the CEO of MicroStrategy Incorporated (NASDAQ:), the company that put all of its reserves in , and even borrowed funds to buy Bitcoin, remains confident despite the current market slump.
He indeed reiterated his opinion that the price of Bitcoin will experience an exponential rise over the next few years:
“There is no price target,” Saylor told Yahoo Finance Live. “I expect us to buy bitcoin at the local top forever. And I expect bitcoin to reach millions. So we are very patient. We think this is the future of the money”.
He also considered that the current fall of Bitcoin is linked to the Fed’s interest rate hike, as is the case for other risky assets, judging that this situation is separate from the collapse of the stablecoin. TerraUSD and its sister token Luna, which it says will accelerate efforts to regulate stablecoins and security tokens.
“It will be good for the industry,” he said. “Over time, I think as people get educated and more comfortable, I think we’ll recover from this decline.”
According to him, the collapse of , will lead to an acceleration of the regulation of stablecoins and crypto security tokens, in favor of Bitcoin, which will not be affected:
“Once people understand why bitcoin is superior to everything else, then institutions will come in with big bucks, and we won’t have to fight through this massive explanation of why we’re different. of the other 19,000 crypto tokens,” he said.
In other statements, this time to The Wall Street Journal, also yesterday, MicroStrategy Chief Financial Officer Andrew Kang said the company’s strategy of buying and holding bitcoin (BTC) for the long term would not change. despite the rout in cryptocurrencies and stock markets in general.
Kang said the company has no plans to sell at this time and said it has not faced shareholder pressure despite the turmoil, according to the report.
Recall that published data shows that as of March 31, Microstrategy has 129,000 Bitcoin in its vaults, for an average purchase cost of around $30,700.