{"id":19279,"date":"2024-12-06T17:06:54","date_gmt":"2024-12-06T15:06:54","guid":{"rendered":"https:\/\/forklog.com\/en\/michael-saylor-dismisses-likelihood-of-bitcoin-plummeting-by-80\/"},"modified":"2024-12-06T17:06:54","modified_gmt":"2024-12-06T15:06:54","slug":"michael-saylor-dismisses-likelihood-of-bitcoin-plummeting-by-80","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/michael-saylor-dismisses-likelihood-of-bitcoin-plummeting-by-80\/","title":{"rendered":"Michael Saylor Dismisses Likelihood of Bitcoin Plummeting by 80%"},"content":{"rendered":"<p>Michael Saylor, the founder of MicroStrategy, explained in an interview with Yahoo Finance why he considers a deep correction in Bitcoin unlikely in the current cycle.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">On <a href=\"https:\/\/twitter.com\/search?q=%24BTC&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$BTC<\/a> 100K Day, my discussion with <a href=\"https:\/\/twitter.com\/juleshyman?ref_src=twsrc%5Etfw\">@JulesHyman<\/a> covered advice to <a href=\"https:\/\/twitter.com\/stoolpresidente?ref_src=twsrc%5Etfw\">@stoolpresidente<\/a>, cyber-manhattan, the need for a digital assets framework, the emergence of <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> as the world reserve capital network, and the logic of a US Strategic <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> Reserve. <a href=\"https:\/\/t.co\/XG9uChRap8\">pic.twitter.com\/XG9uChRap8<\/a><\/p>\n<p>\u2014 Michael Saylor\u26a1\ufe0f (@saylor) <a href=\"https:\/\/twitter.com\/saylor\/status\/1864832395695796286?ref_src=twsrc%5Etfw\">December 6, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>During the previous &#8220;crypto winter,&#8221; digital gold experienced an 80% drop \u2014 from ~$66,000 to ~$16,000, he recalled.<\/p>\n<p>However, since then, the market structure has strengthened and significantly transformed. Previously driven mainly by retail investors, it is now led by institutional players, Saylor noted.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;For such a [decline] to occur, you would need a bunch of poorly capitalized companies like FTX, Genesis, Celsius, and BlockFi,&#8221; the entrepreneur added.<\/p>\n<\/blockquote>\n<p>While volatility in Bitcoin will continue, it should not be seen as a barrier to purchasing cryptocurrency, according to Saylor. He expressed confidence that the asset will become &#8220;the most valuable in the world over the next 100 years.&#8221;\u00a0<\/p>\n<p>Throughout the year, MicroStrategy has regularly acquired digital gold as part of its strategy, despite price fluctuations. As a result, the asset brings profits to the company&#8217;s shareholders, its founder emphasized.<\/p>\n<p>With Bitcoin surpassing $100,000, he reported that MicroStrategy&#8217;s crypto reserves have yielded a 63.3% return since the beginning of the year, with a net profit equivalent to ~119,800 BTC. The company owns 402,100 BTC.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">Year to date, <a href=\"https:\/\/twitter.com\/search?q=%24MSTR&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$MSTR<\/a> treasury operations delivered a BTC Yield of 63.3%, a net benefit of ~119,800 BTC to our shareholders. At $103K per BTC, that equates to $12.3 billion for the year so far, making us the most profitable, fastest growing company on the <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> Standard.<\/p>\n<p>\u2014 Michael Saylor\u26a1\ufe0f (@saylor) <a href=\"https:\/\/twitter.com\/saylor\/status\/1864675265491677408?ref_src=twsrc%5Etfw\">December 5, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\u00a0\u00a0<\/p>\n<p>In the interview, he confirmed that he has continued to expand his personal Bitcoin portfolio, consistently purchasing coins over the past few weeks.<\/p>\n<p>Regarding the idea of the US forming a national reserve in the first cryptocurrency, Saylor stated that the initiative could bring significant economic benefits to the country. If a substantial volume of the asset is accumulated, it could catalyze similar actions from other countries like China and Russia. However, to acquire the now-scarce Bitcoins, they would have to turn to the United States, which would &#8220;see a flow of money,&#8221; the entrepreneur described the scheme.<\/p>\n<p>Former US Treasury Secretary Lawrence Summers called the idea of creating a strategic reserve in digital gold &#8220;madness.&#8221;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Michael Saylor, the founder of MicroStrategy, explained in an interview with Yahoo Finance why he considers a deep correction in Bitcoin unlikely in the current cycle. On $BTC 100K Day, my discussion with @JulesHyman covered advice to @stoolpresidente, cyber-manhattan, the need for a digital assets framework, the emergence of #Bitcoin as the world reserve capital [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1208,1207,1138],"class_list":["post-19279","post","type-post","status-publish","format-standard","hentry","category-news-and-analysis","tag-michael-saylor","tag-microstrategy","tag-opinions"],"aioseo_notices":[],"amp_enabled":true,"views":"20","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/19279","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=19279"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/19279\/revisions"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=19279"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=19279"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=19279"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}