Michael Sailor, CEO of MicroStrategy, a NASDAQ listed company
Maintaining the claim that the value of cryptocurrency rises despite falling market
Photo = Reuters
Michael Sailor, CEO of MicroStrategy, a US NASDAQ-listed company, argued that Bitcoin’s market capitalization would exceed $100 trillion. In a situation where the market price of cryptocurrency (virtual currency) including bitcoin fell all at once, they showed their belief that the bitcoin market cap could increase more than 100 times the current one.
Sailor CEO said in an interview with CNBC Broadcasting on the 23rd (local time) that “the value of cryptocurrencies including bitcoin will increase until they stably exert a stable influence on the world’s finances.” Claimed that it will achieve. The bitcoin market cap recently surpassed $1 trillion and has since fallen to the $900 billion mark due to the drop in bitcoin price.
Sailor’s CEO’s MicroStrategy gained popularity as a company that held Bitcoin before Tesla, an electric vehicle company. MicroStrategy announced in August last year that it owns 21,500 Bitcoins. Recently, it has issued convertible bonds for the purpose of raising funds to purchase additional bitcoins. As of the beginning of this month, MicroStrategy has 72,000 bitcoins.
MicroStrategy’s bitcoin investment has once again gained attention with Tesla’s recent announcement of its bitcoin holdings. Sailor’s CEO, who publicly advised Elon Must Tesla CEO to invest in bitcoin at the end of last year, also earned the nickname of a bitcoin evangelist.
Sailor said, “If the bitcoin market cap reaches $10 trillion, the volatility of the bitcoin market price will also drop significantly.” It is expected that the market capitalization will increase as bitcoin replaces investment assets such as gold and government bonds. Investors who trust in the rise of bitcoin’s value believe that it will serve as a kind of store of value and’digital gold’ as the supply of bitcoin is capped at 21 million coins. According to CoinDesk, the number of Bitcoins currently in circulation is about 18.64 million.
Recently, MicroStrategy’s stock price is moving in conjunction with the Bitcoin price. On the 23rd, when the bitcoin market fell, MicroStrategy’s share price fell 21.09% from the previous day.
Reporter Gowoon Lee [email protected]
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