Michael Saylor, the founder of MicroStrategy, is confident in Bitcoin’s potential to reach $10 million, driven by support from China and other factors.
During a podcast with Robin Sier, the entrepreneur described Bitcoin as a “perfect” asset:
“What is the difference between perfect and imperfect money? Perfect money is economic immortality. Imperfect money: we all have a short and brutal life.”
Saylor believes digital gold acts as a “corporate machine” that will enable companies to “live forever.” He is convinced that firms investing in Bitcoin will outlast those “mired in the corporate ailments of the past.”
“The average lifespan of a corporation is about 10 years. […] We are talking about eliminating corporate mortality, we are talking about easily increasing economic viability tenfold, a hundredfold, or perhaps a millionfold,” added the MicroStrategy founder.
He believes that in the future, governments, especially China, will fully embrace the first cryptocurrency and integrate it into state infrastructure.
Saylor also described all economic tools that predate Bitcoin as obsolete.
“Before Satoshi Nakamoto, economics was a pseudoscience. It was a quasi-religious liberal art, full of opinions, prejudices, and biases. […] All economists before Satoshi tried to develop economic laws using shells, glass beads, pieces of paper, and credit instruments,” the businessman emphasized.
Earlier, Saylor stated that the approval of spot Ethereum ETFs in the US creates “another line of defense for Bitcoin.” He noted “accelerated institutional adoption” thanks to the instrument.
In June, MicroStrategy acquired an additional 11,931 BTC for $785 million. In total, the firm holds 226,331 BTC, purchased for approximately $8.33 billion.
In February, Saylor stated that in the near and long term, the company does not intend to sell its digital gold reserves.