According to Strategy’s executive chairman Michael Saylor, the excitement that draws retail investors to Bitcoin may be lost if it becomes more attractive to institutional investors.
“You want the volatility to decrease so the mega institutions feel comfortable entering the space and size,” Saylor told Natalie Brunell’s Coin Stories Podcast, published on YouTube Friday.
Michael Saylor believes it to be a “conundrum”
“The conundrum is, well, if the mega institutions are going to enter, if the volatility decreases, it is going to be boring for a while, and because it’s boring for a while, people’s adrenaline rush is going to drop,” Saylor explained.
“It’s like they had this big high and now the adrenaline is wearing off and they’re a little bearish.”
Saylor stated that this is what she meant “growing stage” Bitcoins are a (BTCThe volatility of the. “coming out” It is good to see the asset.
He made his comments as market participants questioned why Bitcoin’s prices have stagnated after reaching a high of $124,100 on August 14, 2018. Bitcoin’s price is $115.760 as of the publication date, which is very close to August 21 when it was $114.618. according CoinMarketCap is a great place to start.
Although it was generally believed that US Federal Reserve’s interest rate reduction on Sept. 17, 2017 was already priced into the market, some analysts believe that additional cuts in later part of this year may push Bitcoin and crypto assets to higher levels.
Bitcoiners have different opinions on the future of bitcoin’s price
But Bitcoiners disagree on the direction of the price for the remainder of 2018.
BitMEX co-founder Arthur Hayes Bitcoin analyst PlanC believes the price will not peak until next year.
Meanwhile, crypto analyst Benjamin Cowen recently said that Bitcoin Can experience a “70% drawdown from whatever the all-time high ends up.”
Related: Bitcoin price $150K target comes as analyst sees weeks to all-time highs
Saylor stated that Bitcoin innovations and new products were still at an early stage, since the market was still a young one. “getting educated.”
“This is the digital gold rush in the 10 years from 2025 to 2035,” He explained that there will be many business models, and different products.
“There’ll be a lot of mistakes made and there’ll be a lot of fortunes created,” He also added.
At the time this article was published, publically-listed Treasury companies held approximately $117.91 Billion in Bitcoin. according The following are some of the ways to get in touch with us: BitcoinTreasuries.NET.
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Source: cointelegraph.com
