Saylor: Billions will choose Bitcoin for savings
For him, however, the comments were of little consequence compared with the broader Bitcoin use case quickly encroaching into more and more people’s financial lives.
“The story here that’s not being told is that Bitcoin is egalitarian progressive technology,” he told CNBC’s Squawk Box segment.
“We’re going to see a day when 7 to 8 billion people have a bar of digital gold on their phone, and they’re using it to store their life savings with it.”
“So, the world needs this thing, and I think you can expect that we’ll have a billion people storing their value — in essence, a savings account — on a mobile device within five years, and they’re going to want to use something like Bitcoin,” he added.
“Bitcoin is the dominant digital monetary network.”
Analyst: Tesla will “double down” on BTC holdings
Saylor continues to make waves with MicroStrategy’s ongoing Bitcoin buys, the latest of which involved raising $900 million solely to add to its existing holdings.
While skeptics claim that few others will follow in the company’s footsteps, another CNBC guest on Tuesday forecast that Tesla, which itself bought $1.5 billion in BTC, will “double down” on its exposure.
“I think this is not just a fad. I think Tesla’s going to continue to double down on its Bitcoin investment and you’ll see it from a transaction perspective as well,” said Dan Ives, managing director and senior equity research analyst at Wedbush Securities.
At the time of writing, the pair traded above $48,000, with $50,000 appearing to act as current resistance.
“As expected, ‘they’ protected the 44k level. I think $BTC will go up or sideways as there’s no more Tether FUD,” Ki Young Ju, CEO of on-chain analytics service CryptoQuant, added about whales controlling the extent of further losses.