BlocksInform
Michael Saylor, the co-founder and executive chairman of American business intelligence firm MicroStrategy, has shared what he thinks will happen to bitcoin (BTC) in the next eight years while outlining how it will come into play.
In a recent interview with Cory Klippsten, the founder and CEO of Swan Bitcoin, Saylor noted that he sees bitcoin becoming a global store of value by 2031.
In a recent interview with Cory Klippsten, founder and CEO of Swan Bitcoin, Saylor noted that he is seeing Bitcoin become a valuable global store by 2031.
Institutional Adoption The bitcoin promoter believes that the institutional adoption is possible thanks to the "declarations" of the futures trade committee of raw materials of the United States (cftc), Securities, Exchange and Investment Committee (sec), as well as the decisions of traditional financial institutions.
Saylor mentioned some traditional financial institutions, such as BlackRock and Fidelity, that are beginning to embrace bitcoin in recent times due to its potential despite previously distancing themselves from the asset.
Saylor mentioned some of the traditional FIs, as BlackRock, as well as Fidelity, who are starting to embrace Bitcoin these days because of its potential despite previously distancing from assets.
The MicroStrategy co-founder also cited the explosive growth of the Lightning Network as another factor that will make the digital asset a global store of value.
The Lightning Network is a layer-2 solution built on the bitcoin protocol to make transactions faster and cheaper. Interestingly, MicroStrategy plans to develop applications powered by the Lightning Network that could reach millions of users.
According to saylor, the development of "killer applications" such as flash purses that move digital and BTC dollars and swaps into and out of the local currency will create massive demand for the asset.
'I describe this as 1991, you had tcp ip, and we had internet. 'I describe it as in 1991, you had TCP IP, and we had internet.
Macroeconomic Headwinds
In 1994, You had the Netscape navigator, And now it was the web-killing app, and soon, 100 million people downloaded this browser and it went up in flames," he said.
Macroeconomic Headwinds The billionaire also noted that adverse macroeconomic winds, like the rising interest rates on the U.S. Federal Reserve, are the key factors that will help Bitcoin reach a status.to value global store to keep inflation under control, The Fed has raised federal funds seven times in 2022, and others should take place this year.
To curb inflation, the Fed raised federal funds seven times in 2022, and it is expected that further action will be taken this year.
