Wednesday, October 5, 2022

MicroStrategy’s Michael Saylor and Ark Invest’s Cathie Wood Expresses Optimism on Bitcoin’s Future

Leaning on the recent declaration of the President of the United States (POTUS), two notable crypto investors- Microstrategy CEO Michael Saylor and Ark Invest CEO Cathie Wood have expressed immense optimism for Bitcoin‘s (BTC) unhindered growth at the ongoing Bitcoin 2022 conference happening in Miami.

Speaking to an audience of Bitcoin admirers at the conference, these two individuals bared their hearts on some of the reasons why they believe Bitcoin would continue to grow in adoption and market value.

According to Saylor, one political reason which gives credence to his bullish opinion on BTC is the recent executive order by President Joe Biden through which he directed various federal agencies to begin to look into the workings of cryptocurrencies and a possible near future incorporation.

Saylor, whose Microstrategy firm owns more than 120,000 Bitcoin units estimated to be worth about $6 billion, said that this executive order from the POTUS is tantamount to a ‘green light’ for Bitcoin.

Explaining further, Saylor stated that he cannot recall any time in about 100 years of America’s history when a POTUS had ordered that a new asset class be put under the radar for possible consideration and incorporation into mainstream governance.

On her part, Cathie Wood pointed the audience in the direction of how much political support Bitcoin has rallied in the United States in recent times. With some staggering audacity, Wood gave a staggering $1 million projection for each Bitcoin unit come the year 2030.

Unending Bullish Trend for Cryptocurrency

From the traditional finance landscape to sports, entertainment and practically all spheres of human enterprise, the bullish horns for blockchain technology- Cryptocurrency, non-fungible tokens (NFTs), and the metaverse seem to be striking harder.

Multinationals like Intel which before now had nothing to do with blockchain technology have been reported to be actively involved in the manufacture of energy-efficient conductor chips for Bitcoin mining rigs.

In the fund’s transfer and payment sphere, CashApp has also forayed into the Decentralized Finance (DeFi) arena with the inclusion of new features that support Bitcoin payments and transfers.

Turning in the direction of sports, it has also been nothing short of mouthwatering blockchain technology partnership deals with sports stars receiving their paychecks in cryptocurrency.

Victoria Nye
A Blockchain columnist who is enthusiastic about developing a network interface between the real world and the cryptosphere.

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