Bitcoin has gone from “opposing the system” to “being adopted by it,” he says.
Saylor predicts what price bitcoin could reach by the end of the year.
Michael Saylor, CEO of Strategy, the listed company with the largest holdings of bitcoin (BTC), has called the last year “probably the most positive in the history of bitcoin and digital assets,” based on a series of regulatory developments perceived as favorable within the United States.
The executive highlighted a positive change in the American regulatory environment, mentioning the Securities and Exchange Commission (SEC) for the implementation of policies that it considers more “friendly to bitcoin and digital assets,” as well as the reversal of less advantageous measures for the sector.
Besides, pointed out he White House endorsement of digital currency as “digital gold” and the support of the Secretary of the Treasury for stablecoins, indicating that the future of the US dollar lies in its tokenization. Saylor too highlighted the appointment of a new head of the Commodity Futures Trading Commission (CFTC) with a positive outlook towards digital assets.
As for the future of the market, Saylor anticipates that the industry “is going to multiply by 10.” This growth projection is supported by the growing participation of large traditional financial institutions such as JP Morgan, Wells Fargo, Bank of America, Morgan Stanley and BNY Mellon. According to the president of Strategy, these entities will be responsible for introducing bitcoin and digital assets to the next 1 billion people.
The businessman argued that Bitcoin volatility is declining as the industry gains structure, with more derivatives emerging and mechanisms to cover the risk. Your consensus expectation among analysts who cover your company and the industry places the price of the digital asset at around $150,000 by the end of the year. Saylor concluded that bitcoin has gone from “opposing the system” to “being embraced by it.”
This figure represents a moderation compared to the forecast that Saylor had expressed in December, as reported by CriptoNoticias. At that time, the executive had stated that he believed that the digital asset could reach $180,000 before the end of this year, an expectation that was $30,000 higher than the current projection.