In an interview with CNBC, Michael Saylor, CEO of MicroStrategy, predicts that by 2026, 7-8 billion people will save their lifetime Bitcoin savings on their phone.
In the interview, Michael Saylor also came out to defend the Bitcoin network, which he called “the dominant digital currency network». All of this, a day after US Treasury Secretary Janet Yellen described Bitcoin as’inefficient».
As a curious fact, comments that accompanied a fall in the price of Bitcoin, of more than 20% from the historical highs of $ 58,300.
In this regard, Michael Saylor clarified that Janet Yellen’s comments were of little importance compared to the broader use case of Bitcoin. That rapidly invades the financial lives of more and more people.
“The story that is not told here is that Bitcoin is a progressive and egalitarian technology.”
One billion people will use Bitcoin by 2026
Michael Saylor said on CNBC’s Squawk Box segment: “We are going to see a day, in which 7 to 8 billion people have a digital gold bar on their phone. And, use it to keep your life savings with him».
He added, that Bitcoin is not really to spend, but rather a savings tool. Where people can store value similar to a savings account.
During the interview, Michael Saylor discussed the nature of the people who will have Bitcoin by 2026. The holding will not necessarily be dominated by large institutional investors. Rather, by ordinary people who will turn to Bitcoin, as a backup tool.
In this sense, Michael Saylor highlighted that there could be people who resort to saving in Bitcoin, simply because they have no other way to do it.
For example, “people in countries where the inflation rate is one thousand percent in their local currency».
The cyberspace bank
Michael Saylor also highlighted: «Bitcoin is the cyberspace bank for people who don’t have the ability to run their own hedge funds».
«People use Bitcoin to store their monetary energy for the long term. The price is a reflection of the monetary energy of this cyberspace bank».
However, not everyone seems optimistic. Peter Schiff, criticized Michael Saylor, for publicly recommending investing in Bitcoin during the broadcast on CNBC. In addition, he accused him of manipulating the market.
Bitcoin is the one trillion dollar asset
Michael Saylor also compared the 12 years it took for Bitcoin to become a trillion dollar asset. Eventually it took tech giants like Amazon, Google and Apple to get that number.
«Bitcoin did it two to four times faster than those companies».
MicroStrategy prepares to acquire more Bitcoin
In fact, the company is preparing to acquire an additional $ 1.05 billion in BTC.
Specifically, according to a statement, MicroStrategy is ending an offering of convertible notes. As a strategy to maximize your Bitcoin holdings.
According to Michael Saylor, Bitcoin will absorb the total gold market capitalization of $ 10 trillion in the future. He added that the market value of Bitcoin would reach $ 100 trillion a day.
In closing, the CEO of MicroStrategy explained that volatility would drop drastically once BTC’s market capitalization reaches $ 10 trillion.
I say goodbye with this phrase from Lena Valenti: «We can only see little of the future. But enough to know there’s a lot to do».