Bitcoin Is ‘Going Up Forever’: MicroStrategy CEO

MicroStrategy CEO shared his stance on the current financial system and claimed that it will always push bitcoin-like assets to keep increasing.

MicroStrategy is a software firm and its CEO Michael is bullish on bitcoin. MicroStrategy owns a total of 114,042 bitcoins and the company is in profit by around 50%. 

On 12 November, Micheal Saylor appeared in an interview with the CNBC TechCheck host Deirdre Bosa. In the interview, Micheal Saylor said that flagship assets’ price will keep increasing because of the capped supply, which can’t be increased whatever will be the demand.

In particular, Michael shared his point of view on Bitcoin and said 

“My point is that (there’s)never going to be more than 21 million Bitcoin, so it’s a very fixed supply. It’s the only scarcity that anybody can invest in in the world”

Further, Michael said that all the other crypto, Stocks, gold & real estate have a limited market cap and we will see only an increase in the price. So every asset that we will buy against the hedge of inflation will only increase. 

Further, Michael touched on the matter of inflation and said that there is a correlation between the increase in price and the increase in the inflation of the traditional fiat currencies. According to Micheal, inflation is responsible for the plunge in the value of the fiat. 

Michael Saylor also asserted that inflation will keep increasing. As per records, the rise in inflation is 10% per year or 14% in some situations but in future, we can only expect an increase in inflation, which is very usual. But all these assets (non-fiat) will increase forever with volatility. 

Michael indirectly criticized the banks about their operations of gold bonds. According to Micheal, ‘Bankers can rehypothecate gold and they can print 100 ounces of paper gold for every real ounce of gold. Probably Micheal asserted people not to go with Gold investments.

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