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Michael Saylor predicted a new bitcoin high within four years


MicroStrategy founder Michael Saylor predicted the price of digital gold will rise above a record high of $69,000 in the next four years. This is reported by MarketWatch.

He believes that bitcoin has bottomed out in the current bear cycle and expects its quotes to rise to the level of $500,000 in the next decade.

Saylor said he personally owns 17,732 BTCs, which he purchased at about $9500 about two years ago. Thus, his total investment in the first cryptocurrency exceeded $165 million.

He also said that bitcoin has a high chance of replacing gold as an asset to preserve its value because of the inability of governments to control it.

Earlier MicroStrategy purchased an additional 301 BTC worth $6 million with an average purchase price of $19,851 per BTC.

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Who is Michael Saylor?

Michael Saylor is a well-known proponent of bitcoin. He calls the first cryptocurrency the most reliable thing in an unstable world and a global reserve asset.

"Bitcoin is the most reliable thing in a very unstable world. It's more reliable than the other 19,000 cryptocurrencies, than any stock, than owning property anywhere in the world," the top manager stressed.

In his opinion, people who have invested at least $100 in bitcoin can talk about cryptocurrencies. Otherwise they may have nothing to say about it," Saylor said.

Commenting on the Terra crash and the market correction that followed, the MicroStrategy head questioned whether what's happening is evidence of a bear phase.

"I don't know if this is a bear market or not, but if it is, we've had three in the last 24 months," he stressed.

Saylor added that he prefers not to get carried away by short-term prices. He said people who pay too much attention to charts are "guessing at coffee grounds."

"If you're not planning to hold it [bitcoin] for four years, you're not an investor at all, you're a trader, and my advice to traders is don't trade it, invest in it," the top executive concluded.

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