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Michael Saylor , CEO of Microstrategy ($MSTR) predicts Bitcoin will continue appreciating in value to the point where BTC becomes a âstabilizing influenceâ for the entire global financial system. He predicted, in a bold call, that Bitcoinâs market value will skyrocket to $100 trillion.
âThereâs a $500 trillion monetary planet and the outer layer is currency, then youâve got stocks, bonds, real estate. Thereâs $10 trillion worth of gold in there, $1 trillion of bitcoin in there. Bitcoin is going to flip gold, and itâs going to subsume the entire gold market cap.
Then itâs going to subsume negative-yielding sovereign debt and other monetary indexes until it grows to $100 trillion. Once it gets to $10 trillion, its volatility will be dramatically less,â Saylor said. âAs it marches toward $100 trillion, youâre going to see the growth rates fall, the volatility fall, and itâs going to be a stabilizing influence in the entire financial system of the 21st century.â
In other trending Bitcoin News today: Looming Bitcoin Supply Squeeze Could Trigger New Bull Cycle, According to Crypto Analytics Firm Glassnode!
Certain Bitcoin ownership metrics indicate that Bitcoin (BTC) could be teeing up for a bullish market cycle, according to the blockchain analytics platform Glassnode.
âOn an absolute coin volume basis, LTHs currently own the most coins in history, hitting 12.97M BTC this week.
Peaks in LTH-owned supply typically correlate with late-stage bear markets which are historically followed by a supply squeeze and initiation of cyclical bull runs.â
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Show Notes / Resources:
https://cointelegraph.com/news/btc-holds-48k-as-evergrande-forms-lehman-brothers-moment-for-china