Hello friends, today I am remembering an interview that the CEO of microstrategy Michael Saylor did in 2021. At that time, Michael said that bitcoin was going to surpass gold as a store of value and that there were three things in particular that could happen for the bitcoin will surpass gold.
But not only did he say that if these three things happened and they happened simultaneously, not only would it surpass gold, but each individual bitcoin would end up being worth more than 5 million dollars. Now we have bitcoin at approximately $43,800. A few hours ago it reached 44,600, which is the highest point so far this year.
In reality it is crazy, in recent days it has been exploding exponentially and non-stop thanks to the fomo and greed that exists at this moment since many do not want to miss the famous bullmarket although there is a sector that is saying that the price will surely fall, the reality is that no one has a crystal ball and that this has to be taken in the long term.
Bitcoin is a currency that must be taken in the long term if we are an investor, returning to the main topic in this interview Michael Saylor said for each bitcoin to be worth 5 million dollars, three things had to happen, the first of which was that the ETFs of spot bitcoin and it turns out that it is something that is happening right now, he said it two years ago, he remembers when the approval was something but totally distant and look, I accept it since the ETFs have a high possibility of being approved.
The second thing that has to happen for each bitcoin to be worth 5 million, according to Michael, is that the way of accounting for the balance of bitcoin or bitcoin holdings in companies was changed. Before, it was not fair value but now in the United States in recent months This has already been changed so that it is counted as fair value in the balance sheets of companies, but in this case it will not be until December 2024 when this new way of measuring bitcoin holdings in companies as fair value comes into force.
The third thing that Michael says is that the banks come into play, that the banks are the custodians of the cryptocurrencies, the custodians of the bitcoin, but not only that, once they become custodians, they will also become those who give loans in bitcoin as they do. they do today with dollars or Euro as they do today with Fiat currencies.
These are the three things that Michael Saylor, the CEO of microstrategy, said had to happen for bitcoin to go to 5 million dollars per coin. Imagine that it does not go to 5 million, although it sounds crazy, this scenario could happen but at very long term. The important thing is that the three things that Michael Saylor predicted in 2021 are happening.
You may be interested in watching this video |
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Link Twitter
https://twitter.com/joel_jai1/status/1733461654300512370
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