‘No, none of it’s going to matter if you pick up the paper one morning and you read that some country just bought 10 billion worth of it. Right? All of these things are looking in the rear view mirror. But if you look forward, there’s 300 trillion dollars worth of currency derivatives, bonds, and equities that are linked to currencies. They’ve all got the same problem, which is the currencies are all weakening either at a rapid rate or at an insane rate. So bitcoin’s the solution to that problem.’
It’s been at least four days since the world’s largest cryptocurrency slipped below $30,000 and another 30 days since it slipped below $40,000 amid a highly volatile macro environment, low consumer sentiments, and other bearish indicators. There isn’t much hope for a massive recovery in the short term. Sometimes it’s hard to predict the trend and choose the right decision. However, the best thought is that people should rest, robots should earn money. Register in Jet-Bot copy trading platform and earn passive income with your crypto. Users gain from 200% – 2,000% APY. Register the account to get your 3 days trial access.
However, market titans such as Michael Saylor, co-founder and CEO of Microstrategy, continue to use their platforms to convince investors of cryptocurrencies’ long-term potential. In a recent interview with CNBC, Sailor establishes a simple fact: Bitcoin is the future of payments, investments and currencies. The rest of the world just has to catch on, Saylor declares with his usual candor and trust in a coin that he has promised to continue amassing for his analytics firm. We will now take you to the entrepreneur’s interview with CNBC:
‘You know… First of all, everybody needs a certain thing in a very uncertain world. When you look at what bitcoin is, it’s a network of 20 billion dollars worth of mining hardware that consumes billions of dollars of energy per year and is distributed all over the world. It took us 13 years to get here.
There’s only one bitcoin and if you go to Davos, everybody’s talking about the need for a new global money. How am I going to store my value? They’re debating whether it’s gold, silver, or something else, and obviously bitcoin is the answer, so we have a solution to the world’s problem. I think it’s simply a matter of sitting back and letting things play out.’
Just concluded, the World Economic Forum annual conference is one of the largest annual gatherings of the biggest names in the world. One of the topics that were frequently discussed during this year’s conference is the cryptocurrency sector. This means that crypto assets like Bitcoin, Ethereum, Binance, Solana, Cardano, and other digital assets have the world’s attention. However, we are still in a bear market. That is why organizations like UBS are sharing some bearish sentiments about the crypto ecosystem.
In a recently published note, the multinational investment bank noted that social media interest in the crypto space is slackening as are on-chain activities. It concluded that there would not be a turnaround anytime soon and even if there is, it won’t last for long. Here is Sailor’s reaction to the note:
‘None of it’s gonna matter if you pick up the paper one morning and you read that some country just bought 10 billion dollars’ worth of it. All of these things are looking in the rear view mirror. But if you look forward, there’s 300 trillion dollars worth of currency derivatives, bonds, and equities that are linked to other sorts of currencies. They’ve all got the same problem, which is the currencies are all weakening either at a rapid rate or at an insane rate. And so bitcoin’s the solution to that problem, and we’ve simply got to wait until the world discovers it. Education, I think, is going to drive adoption.’
Well, you’re clearly a first mover when it comes to bitcoin and, I would think, in cryptocurrencies in general. When is the rest of the world going to catch up? Do you have a timeline? I know you believe that bitcoin is going to reach the millions at some point, but certainly with any kind of projection like that, we need some type of a timeline.
‘Well, you know, a lot of times people focus on the weeks. But if you actually look at the last two years, you could say the world is catching up to two years ago. We experienced a coveted crisis, and the US money supply has grown by 36%; bitcoins – up to 229%, since then. The Nasdaq, as well as the S&P 500, have all underperformed the expansion of the US money supply. Over a two-year, four-year, six-year, or eight-year time frame, bitcoin’s outperforming everything. I think if you look out another two to four years, it’s going to continue to perform and there’ll be some volatility in the near term. But I think that that’s the price you pay for the performance.’
As Saylor explains in his interview, the crypto sector has only been around for less than 15 years. It still has a lot of room to grow. With it drawing the attention of platforms like the World Economic Forum, growth might come faster than the world imagines.
[This article is a transcription of a video made by Savvy Finance]
Original video: https://youtu.be/7b7-YdffLrs ]