Billionaire Bill Ackman Explains Reasons to Buy Bitcoin. 🔥🪙

In a surprising turn of events, billionaire Bill Ackman, the CEO of Pershing Square Capital, has hinted at the possibility of entering the Bitcoin arena. This revelation comes amidst Ackman's speculation about a scenario where Bitcoin's price surge triggers a chain reaction leading to economic collapse.

Recently, Ackman outlined a narrative where Bitcoin's price hike could contribute to an economic downturn. He pointed to factors such as increased demand, energy usage, rising energy costs, inflation, and a weakened dollar as potential catalysts for this grim scenario.

Ackman delved into a cyclic theory where the rise in Bitcoin's price leads to higher energy consumption and costs, subsequently causing inflation and a decline in the dollar's value. To hedge against the potential economic collapse resulting from this cycle, he contemplated the idea of investing in Bitcoin.

However, prominent figures within the crypto community quickly countered Ackman's logic. Alexander Leishman, CEO of River, argued that Bitcoin mining often drives miners toward more remote forms of energy, reducing electricity costs. MicroStrategy CEO Michael Saylor echoed this sentiment, emphasizing the positive impact of Bitcoin mining on electricity costs for consumers.

Invitations for discussion were extended, with Michael Saylor inviting Ackman for a one-on-one conversation to explore differing perspectives. Pierre Rochard, Riot Platforms’ VP of Research, encouraged Ackman to delve into the economics of Bitcoin mining.

Daniel Batten, an environmentalist and venture investor, provided an additional critique, challenging Ackman's logic by stating that Bitcoin mining utilizes stranded or wasted energy.

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