Michael Saylor, the Executive Chairman and Founder of MicroStrategy, is a well-known advocate for Bitcoin. He has made several bold statements about the cryptocurrency, including a prediction that Bitcoin could potentially be worth $5 million.
Saylor has outlined three conditions that could drive Bitcoin to this value:
- The launch of spot Bitcoin ETFs.
- Banks offering BTC-based financial services.
- Official regulation in the US.
He has also been quoted saying that Bitcoin is “ride or die”, which suggests his belief in the long-term potential of Bitcoin despite its volatility. This sentiment is reflected in MicroStrategy’s investment strategy, as the company holds 152,800 bitcoins, worth nearly $4 billion.
However, it’s important to note that these views are not universally shared. For example, Peter Schiff, a noted gold bull, compared Saylor’s commitment to Bitcoin to Captain Ahab’s obsession with Moby Dick. Schiff suggested that Saylor’s “obsession with Bitcoin will not only be his death but it will kill everyone onboard MSTR” and advised shareholders to “choose between mutiny or jumping ship”