Michael Saylor to Mario Nawfal: Four New Reasons for Bitcoin’s Continued Price Surge
This is gold in a vast technology network, with everything we love about technology, mobile phones, the internet, computers, artificial intelligence—smarter, faster, stronger.
The CEO of MicroStrategy, Michael Saylor, a prominent Bitcoin maximalist, stated that the current surge in Bitcoin is bolstered by the educational efforts of leaders like Larry Fink, CEO of BlackRock, who positions Bitcoin as a hedge against monetary debasement and global instability.
Saylor spoke with Mario Nawfal and James Heckman in a five-part exclusive interview for TheStreet. He mentioned that “BlackRock has been leading educational efforts in the market about the long-term value of Bitcoin and helping mainstream investors gain a foothold in this emerging asset class.”
Saylor told TheStreet, “Everyone wants to be part of the next big technology wave, so first and foremost, that pushes it higher. The idea of gold is thousands of years old, but it has come back with a significant twist in technology.”
This is gold in a vast technology network, with everything we love about technology, mobile phones, the internet, computers, artificial intelligence—smarter, faster, stronger.
Saylor also noted that the Federal Reserve’s shift from tightening to easing monetary policy last week has bolstered Bitcoin’s potential. “This is good for all assets, but traditionally better for global digital capital like cryptocurrencies.” He also pointed to the potential for large banks like BNY Mellon to start holding Bitcoin: “The entire industry has been waiting for very large banks to fail in order to start safeguarding assets. You can imagine, if your bank doesn’t allow you to hold Apple stock, or you can’t hold bonds, those assets are probably going to be worth less, and therefore, bank custody is a big deal.”
Additionally, Saylor highlighted the approval of BlackRock’s spot Bitcoin ETF options ladder, calling it a “big deal” as it allows for leveraged trading. He also predicts that after the presidential elections in November, there will be greater regulatory clarity: “There is broad pressure on both political parties to bring a digital asset framework to the market.” The increasing institutional adoption of Bitcoin will also compel traditional investors to enter, considering that “99.9%” of the world’s money is held by people who do not have the majority of their assets in Bitcoin.
