Strategy (formerly MicroStrategy) CEO Michael Saylor believes that Bitcoin at $80,000 is a “historic entry point.” He made the observation while speaking to CNBC on March 17.
Saylor reasoned that at this price point, Bitcoin has been stripped of all the risk. He seemed assured that Wall Street, banks, and the United States government will embrace Bitcoin eventually.
The Bitcoin maximalist attributed the current slump in the market to concerns around the tariff war. But once the conditions get better, “Bitcoin will rip forward with a vengeance,” he argued.
Saylor doubled down on the “suitability” of Bitcoin, riding on President Donald Trump’s pro-crypto stance. He said that the founding fathers of the country wrote in the constitution that gold and silver coins were money.
Strategy CEO said that in the 21st century, there is only one asset, i.e., Bitcoin that the President himself is urging not to sell. In fact, the only asset endorsed by the President in 50 years is Bitcoin, he added.
Saylor also referred to the Strategic Bitcoin Reserve and said that any asset that wealth managers sell to their clients such as real estate or art, if seized by the US government, might be sold. Only Bitcoin, even if seized, will not be sold by the government because of its alleged high worth.
In fact, 19 US states are pursuing legislative measures to establish a strategic Bitcoin reserve at the state level.
As per Kraken’s price feeds, Bitcoin was trading at $85,434.61 at press time and has been traversing the price range of $80,000-$85,000 for more than a week now.
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