In an interview with Bloomberg, Michael Saylor, Chairman of Strategy, said Bitcoin has successfully gotten through its riskiest period, and that the world’s largest cryptocurrency is going to get even bigger.
Saylor said Bitcoin is headed for a price point of $1 million. Comments of a similar kind have been echoed by Saylor’s fellow competitor, Tyler Winklevoss, who is the co-founder of Gemini.
Saylor cited multiple reasons for his belief that Bitcoin is going to increase exponentially in value, such as the pro-crypto Trump administration, including the newly appointed Paul Atkins, and the intent of U.S. banks to custody Bitcoin.
He spoke about the three types of preferred stock offered by Strategy—$STRK, $STRF, and $STRD—all now being issued with the purpose of raising money for BTC investments. These stocks are offered for investment by Strategy alongside its main Class A common stock, $MSTR, which is currently trading at $387.11.
Source: Google Finance
“If bitcoin is not going to zero, it’s going to a million,” said Saylor in the interview. He went on to talk about how companies such as GameStop, Trump Media, and his own company, Strategy, have all committed billions of dollars to buy Bitcoin.
Saylor also gave credit to Metaplanet, noting its recent rise as a publicly traded company in terms of market capitalization and liquidity on the Tokyo Stock Exchange.
Strategy continues to buy Bitcoin in large bulk purchases and is the largest corporate holder of BTC in the world.