The CEO of Microstrategy says that bitcoin will emerge as a $100 trillion asset class and will grow 100X from where it is today. He stated that the cryptocurrency is beating gold as a store-of-value and he isn’t worried about regulation. “I’m not at all troubled with the regulations that’s going on right now.”

‘Bitcoin is winning, but gold is losing’ as a store of value

In an interview with CNBC,

Microstrategy CEO Michael Saylor spoke about the future outlook of bitcoin. He discussed the institutional adoption of bitcoin, crypto regulation, market volatility, gold versus bitcoin, and BTC as the world’s dominant digital asset and safe-haven investment.

His company currently hodls 114,042 BTC. He was asked if he would like to continue stacking bitcoin at the current rate or wait for a pullback. He said, “We will keep stacking forever .”

.”

Saylor was asked about bitcoin’s role in replacing, or will replace, gold and he replied:

It’s pretty clear that bitcoin is winning, gold is losing … and it’s going to continue … It’s pretty clear digital gold is going to replace gold this decade.

Saylor stated that he is not concerned with regulation, including the controversial crypto clause in the $1 trillion infrastructure bill.

He stated, “The safest haven for institutions would be to use bitcoin as an asset store of value,” emphasizing the fact that “Bitcoin” is the only legal, ethical, and technical safe haven in the entire cryptocurrency ecosystem .”

The pro-bitcoin Microstrategy boss stated that the crypto regulation being discussed in Washington “will have an impact on security tokens and defi [decentralized finance], exchanges crypto exchanges, and all other use cases for crypto that aren’t bitcoin .”

‘Unstoppable’ — Bitcoin to Become $100 Trillion Asset Class, a 100X Increase

Saylor was also asked what he expects in terms of a realistic price target for bitcoin and whether he sees BTC being worth $1 million a coin someday. He said that if bitcoin doubles each year, then

At the end of the decade it will have flipped gold, and then it will flip monetary indexes, a little bit of bonds, a little bit of real estate, a little bit of equity, and emerge as a $100 trillion asset class. So, 100X of where it is right now.

He continued: “When it gets there, it’ll be 5% to 75% of the global economy. The U.S. dollar will probably replace 150 currencies. There might only be two to three currencies left. The dollar, CNY and euro might all be left. All other currencies will likely disappear. Then bitcoin will become the global monetary index. If you just want to keep your money and don’t care about credit sentiments, equity sentiments, property sentiments , etc.

Saylor was then asked about the reaction of countries to the described scenario and whether Bitcoin is irreversible or if governments will be able to get to the stage he describes. He affirmed:

I think bitcoin is unstoppable as digital property.

He explained that there would be three types of countries.

He explained that the communist countries like North Korea “will not grant you property rights” or “will not allow you to own anything”, and added that “they will probably ban it .”

The second category includes countries with weak currencies. They will have capital controls. Saylor stated that they will allow you to own it, but not want you to trade or exchange it. Then he pointed out that it is legal to have bitcoins in China. They don’t want to see you move billions out of their economy .”

The third group includes western countries with strong currencies like the U.S. Dollar. Saylor stated, “Ofcourse, it’s going be considered property.” When you sell it .”

, capital gains tax will be due.

Do you agree with Michael Saylor? Please let us know your thoughts in the comments below.

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