Your favorite crypto news blog

Over a billion people will store wealth in Bitcoin by 2026, says MicroStrategy’s Saylor

Bitcoin 2021/02/24 12:51 by Mr Oak
MicroStrategy Targets $400 Million In Capital Raise, Intends To Use Proceeds To Buy More Bitcoin

CEO of MicroStrategy Michael Saylor in an interview on February 23 made a striking forecast, stating that a billion people will store their wealth in Bitcoin within the next five years using mobile devices.

The CEO who has become a Bitcoin proponent described Bitcoin as “the dominant digital monetary network,” and will soon be the saving method of choice for over a billion people. Saylor told reporters that Bitcoin is not really for spending but more of a saving tool where investors can store value just like a savings account. “We’re going to see a day when 7-8 billion people have a bar of digital gold on their phone, and they’re using it to store their life savings with it”.

Over a billion people will store wealth in Bitcoin by 2026, says MicroStrategy CEOBTCUSD Chart By TradingView

Bitcoin became the world’s first trillion-dollar crypto asset class and touched a new all-time high on February 21, surging above $58,000. Bitcoin has surged over 40% in two weeks and has seen a 100% gain year-to-date. 

Bitcoin’s price however retracted after Janet Yellen, the new United States Treasury Secretary called it “inefficient,” leading to a monumental price dip from its all-time high. Saylor however stated that Yellen’s comments were of little to no weight when compared to Bitcoin use and its current adoption rate as it continues to change the financial scene. “The story here that’s not being told is that Bitcoin is egalitarian progressive technology,” he stated. 

Saylor also highlighted Bitcoin’s 12-year-journey to becoming a trillion-dollar asset, revealing that Bitcoin achieved that feat quicker than Multi-billion dollar corporations.

“So, the world needs this thing, and I think you can expect that we’ll have a billion people storing their value in essence, a savings account on a mobile device within five years, and they’re going to want to use something like Bitcoin,”

Michael Saylor, earlier this month revealed how corporate organizations can invest in Bitcoin to avoid the financial risks associated with fiat currencies. Speaking at a MicroStrategy virtual pro-Bitcoin conference, Saylor issued a warning to corporate institutions against “fiat derivatives” like bonds, stocks, and real estate, describing them as “treasuries” that are just taking the place of fiat currencies and any returns they yield would only be in the devalued currency. Saylor went ahead to suggest that the only solution to this would be for them to convert all of these into Bitcoin.

0 Like(s)

You should also read...

Bitcoin 02/04/21 20:13 by Adrian Klent
MicroStrategy’s Saylor Doesn’t Seem To Be A Fan Of PayPal’s Bitcoin Payment system
American entrepreneur and CEO of MicroStrategy, Michael Saylor, has vetoed the recent crypto payment method introduced by PayPal, highlighting major blemishes in the background. Taking to Twitter,...
Read More
Mining 31/05/21 11:34 by Olivia Brooke
Prominent Chinese Researcher Says Humans Could Go Extinct If Bitcoin Is Massively Adopted
Bitcoin users are familiar with the general critical sentiments tied around the asset, the majority of which is environmental sustainability. The debate surrounding Bitcoin’s energy usage has stirr...
Read More
Bitcoin 15/06/21 15:08 by Lou Kavan Flavius
Billionaire Tudor Jones Wants To Invest 5% Of His Portfolio In Bitcoin, But Michael Saylor Thinks His Investment Plan Is Flawed
Bitcoin appears to be headed back to previous highs in the wake of a few developments taking place this week. The world’s biggest cryptocurrency broke $40,000, with many expecting it to reclaim the...
Read More
Bitcoin 13/07/21 00:04 by Eduardo Próspero
Why Capital International’s $600M Investment In MicroStrategy Matters To Bitcoin
Capital International’s strategic investment in one of the most talked-about companies of the year shouldn’t raise any eyebrows. However, when that company is pursuing a never-before-seen ...
Read More
Altcoins 19/07/21 21:03 by Olivia Brooke
Jack Dorsey And Michael Saylor Struggle to Convince Boxing Legend Mike Tyson To Choose Bitcoin Over Ethereum
Billionaire Jack Dorsey and Michael Saylor have been top Bitcoin proponents for a while now, and part of their regular Twitter discourse includes evangelists educating their counterparts and other bi...
Read More