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MicroStrategy CEO Says Countries, Banks, Conventional Finance Will Eventually Adopt Bitcoin, It’s Just A Matter of Time

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Michael Saylor of MicroStrategy Says Everyone Will Eventually Adopt Bitcoin (BTC).


 

In a Fox interview yesterday, popular Bitcoin proponent and CEO of business intelligence company MicroStrategy, Michael Saylor, noted that interest in Bitcoin has gained more momentum than what was observed in the past year. 

 

Recounting his experience at the Bitcoin 2022 conference that was held in Miami last week, Saylor said:

“I’ve never seen so much passion [in one event]. We have politicians from all over the world getting interested, we have sports figures, capitalists from every industry showing up for the first time, as well as other intellectual figures.

Every single day another big bank adopts Bitcoin. The big investors just got the green light from the President of the United States, with that crypto executive order. So JPMorgan is coming around, and Bank of America, and Goldman Sachs, are all coming around. It is just a matter of time.”

Bitcoin Is the Solution to Global Financial Issues

According to Saylor, people’s reaction to the development in the global financial system indicates a lack of trust in the government as the value of fiat keeps decreasing due to rising inflation.  

He noted that there was twice as much energy as last year’s Bitcoin event, and it indicates that people are in search of solutions to store their wealth, in order to save it from the rising inflation currently affecting world economies. 

“Bitcoin is the solution [to this problem],” Saylor added, which is why interest in the world’s largest cryptocurrency has surged in recent times. 

Critics & Banks Will Adopt BTC  

Irrespective of the criticisms from several traditional financial experts like Warren Buffett and Peter Schiff, among others, Saylor believes everyone, including the critics and banks, will eventually adopt BTC. 

With the release of the cryptocurrency executive order by the Joe Biden administration, big investors and banks like JPMorgan, Bank of America, Goldman Sachs, and BlackRock are flocking into the digital currency market. 

Commenting on the current dip of the cryptocurrencies that saw the global cryptocurrency market shred over 4% of its value yesterday, Saylor said the current value of Bitcoin presents an opportunity for long-term holders to stack up to their holdings. 

“I think with the Dollar Cost Averaging (DCA) you should be grateful for this opportunity,” he said, adding that traders who hold their Bitcoins for the long-term will get better gains than the “fast money traders.” 

MicroStrategy has embarked on a Bitcoin purchase spree since August 2020, adding nearly 130,000 BTC to its vault in less than two years. 

Despite its large holdings in BTC, MicroStrategy has declared that it will continue to buy Bitcoin

Saylor has been a major advocate of Bitcoin, calling on people to adopt the asset class as a hedge against inflation. 

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Disclaimer

The content is for informational purposes only and may include the author’s personal opinion, and does not necessarily reflect the opinion of TheCryptoBasic. All Financial investments, including crypto, carry significant risk, so always do your complete research before investing. Never invest money you cannot afford to lose; the author or the publication does not hold any responsibility for your financial loss or gains.

Ammarahttps://thecryptobasic.com/
Ammara Mubin is a cryptocurrency reporter and trader with vast experience in the industry. Mubin has written several news stories related to the crypto industry, including non-fungible tokens (NFTs), decentralized finance (DeFi), fundraising, mining, etc. Her major focus is covering regulatory events that are capable of shaping the entire crypto ecosystem.

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