Michael Saylor: “Bitcoin will never hit zero”

The CEO of MicroStrategy believes that the BTC rate will never fall to zero again, as international regulators are looking for ways to control crypto assets, and not impose a total ban on them.

AT interview On CNBC’s Squawk Box, well-known Bitcoin proponent Michael Saylor said that BTC skeptics and opponents have failed. He mentioned a bill to regulate cryptocurrencies in the US, which Senators Kirsten Gillibrand and Cynthia Lummis have already completed work on.

According to Saylor, if governments are trying to regulate cryptocurrencies and legally implement them in different areas of activity, this indicates the acceptance of this asset class. People are beginning to understand that bitcoin is not going anywhere, and it will be used on a global scale.

When asked if Sailor expects the value of the first cryptocurrency to fall further, and if MicroStrategy will suffer significant losses after investing in BTC, Sailor replied that the bitcoin rate will never fall to zero. The flagship cryptocurrency has no choice but to grow to the $1 million mark, the businessman believes. Speaking of the Bitcoin blockchain, Saylor called it a unique network that would not be able to be replicated with the same level of security and adoption, even with billions of dollars in funding:

“Bitcoin would be worth $500,000 per coin if it looked like gold. But it is clear that bitcoin is much better than gold.”

Recently, the head of MicroStrategy suggested that short-term volatility in the price of bitcoin is not critical, since this asset is better suited for long-term investments. In May, Saylor called BTC a “safe haven” during the economic turmoil and said he would put all his free money into it.