According to Strategy’s executive chairman Michael Saylor, the excitement that some investors find in Bitcoin could be lost if it becomes more attractive to institutions.
“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 claims that it’s 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 Aug. 14th. Bitcoin was trading for $115,760 at the time of this publication. This is close to $114,618 a little over a month ago on August 21, according CoinMarketCap.
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
The Bitcoin community is divided over the future of this asset.
BitMEX co-founder Arthur Hayes Bitcoin analyst PlanC does not expect the market to peak this 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 said that many new business models will emerge and products.
“There’ll be a lot of mistakes made and there’ll be a lot of fortunes created,” He added.
As of the publication date, Bitcoin-treasury firms listed publicly hold about $117.91billion. according The following are some of the ways to get in touch with us: BitcoinTreasuries.NET.
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Source: cointelegraph.com
