BTC Bulls Saylor and Wood in Bitcoin Miami: “Don’t Sell Your Bitcoin”
Michael Saylor, the CEO of MicroStrategy and ARK Invest CEO Cathie Wood had a fireside chat at Bitcoin 2022. They discussed about the shift in regulatory landscape, projections for the future, and their overall stance on the crypto.
Wood and Saylor, who are famous for their bullish stance on the future of the crypto industry, are often credited with popularizing Bitcoin among traditional investment firms.
In a session titled “The Future is Bright,” the duo spoke favorably about the future of the cryptocurrency. Both agreed that recently the regulatory landscape surrounding cryptocurrencies seems friendlier, and they commented on the apparent shifting views of regulators.
Saylor said:
“I think the last 12 months have been a 180-degree turn… I think a couple weeks ago, with the executive order, what we had was the President of the United States giving a green light to Bitcoin.”
MicroStrategy, business intelligence software firm, has in the past couple of years become an institutional Bitcoin whale, accumulating billions of dollars worth Bitcoin since August 2020. The company currently owns over 125,000 Bitcoin valued at around $5.4 billion. Last month, MacroStrategy, a branch of MicroStrategy, borrowed $215 million from Silvergate – you guessed correctly – to buy more Bitcoin.
ARK Invest, an investment management firm that focuses on disruptive innovation in its many exchange traded funds. ARK’s ETF’s gained immense popularity in 2020, particularly with retail investors. Since the historic run-up of the firm’s many ETFs, however, they have fallen sharply since February 2021. In her talk with Saylor, Wood reiterated ARK Invests’ call that Bitcoin would hit $1 million by 2030.
Saylor closed the session with a powerful message:
“If you want to turn $250 million into $6 billion, buy Bitcoin, not gold. If I’d have bought $250 million in gold, I would have $250 million in gold instead of $6 billion in Bitcoin.
