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Bitcoin will continue to rise as predicted by the CEO of MicroStrategy

 

MicroStrategy CEO Michael Saylor predicts that the value of Bitcoin (BTC-USD) will "go up indefinitely," but that the cryptocurrency will remain volatile. When asked by CNBC if it plans to continue buying Bitcoin, MicroStrategy, a business intelligence software company that has also become a large buyer of cryptocurrency, said the answer was yes, depending on market conditions. His prediction: "Bitcoin will be a powerful and hard store of value for the economy for the next decade." According to Saylor, the MSTR's chairman, the company was willing to use debt or equity to finance its expanding stockpile. It will be purchased on a quarterly basis using cash flows, debt, or stock, depending on market conditions and what appears to be more accretive for our shareholders, according to Mr. Johnson.

For the rest of the crypto market, Saylor believes that if governments establish a clear structure, a U.S. dollar stablecoin might be worth $10 trillion. According to him, the dollar would unquestionably become the world's digital reserve currency in the near future.

Last week, MicroStrategy (MSTR) saw its stock price collapse after disclosing its ongoing efforts to buy more Bitcoin (BTC-USD). About 101,036 Bitcoins were held by the corporation at the time, with a market value of about $6.1 billion. At 2:30 p.m. ET on Monday, MSTR was up just 0.01% intraday, at $720.88, after trading sideways for several months following a huge spike early in the year. Due to the company's substantial investment in cryptocurrencies, MSTR and BTC-USD have risen in lockstep recently.

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