Michael Saylor is the executive chairman of Strategy. He believes that the appeal of Bitcoin to institutions may diminish the attraction to retail investors.
“You want the volatility to decrease so the mega institutions feel comfortable entering the space and size,” Saylor told Natalie Brunell, Coin Stories podcast on YouTube.
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 claimed that the following is true “growing stage” Bitcoin is a part of the natural (BTCThe volatility of the. “coming out” The asset’s condition is an indication of its quality.
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 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 explained that Bitcoin innovation, new products and the market are in their early stages. “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 You can also find out more about the following: BitcoinTreasuries.NET.
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Source: cointelegraph.com
