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Michael Saylor is planning a $100K bitcoin celebration, citing bullish momentum fueled by Wall Street support, regulatory optimism, and Microstrategyās aggressive BTC acquisitions.
āAll of Our Investors Tell Me, They Want Me to Buy More BitcoināMichael Saylor, the pro-bitcoin executive chairman of Microstrategy (Nasdaq: MSTR), delved into BTCās trajectory and the cryptocurrency industryās future in an interview with CNBC last week. He pointed to a convergence of factors driving optimism, including political developments and Wall Street backing.
āWeāre also getting a lot of very constructive support from Wall Street,ā Saylor said, elaborating: āBlackrock has been a very, very strong voice articulating the bitcoin value proposition.ā He added that Microstrategy announced on Oct. 30 that it will raise $42 billion to buy bitcoin. āThatās the same as saying weāre going to buy every bitcoin mined for the next three years at $85,000 or more bitcoin,ā
Saylor described, emphasizing:
Thereās a lot of bullish things going on in the market right now.
On regulation, Saylor discussed the importance of leadership at the U.S. Securities and Exchange Commission (SEC), calling it āprobably the most pivotal role in the entire digital assets industry.ā He predicted that a pro-bitcoin SEC chair could bring about significant changes, including āa digital assets frameworkā and āan end to the war in crypto.ā
The Microstrategy chairman also expressed confidence in bitcoinās price performance, rejecting the possibility of a drop below $30,000. āI donāt think itās going to $60K. Itās not going to $30K. I think itās going to go up from here. Iām planning the $100K party and Iām thinking itās probably going to be New Yearās Eve at my house,ā
he opined, noting:
I would be surprised if we donāt go through $100K in November or December.
When asked about the U.S. making BTC a national reserve, he expressed support for Senator Cynthia Lummisā proposal for a U.S. strategic bitcoin reserve, calling it essential for strengthening the nationās economic leadership. āI think itās a great idea. I think it will happen. And I think itās important to the United States ā¦ Senator Lummisā bill will offset $16 trillion of our debt, according to my models right now. So, I think itās economically wise. Itās technically wise,ā Saylor detailed.
Discussing Microstrategyās rapid bitcoin acquisitions, he revealed:
All of our investors tell me, they want me to buy more bitcoin. They want me to raise capital to buy bitcoin. And their number one concern was: āAre you going to stop issuing equity to buy bitcoin?ā So, we were actually addressing their concerns.āWe did raise $2 billion to buy 27,200 bitcoin just in the first 10 days of November. So weāre moving fairly aggressively on it. I think our exact rate will be a function of the capital markets but right now theyāve been very enthusiastic. So, our plan is three years, but itās possible weāll do it much before then,ā he concluded.
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