Michael Saylor says “I am in the process of organizing a $100,000 Bitcoin party at my residence for New Year’s Eve”
Michael Saylor, the co-founder and executive chairman of MicroStrategy (Nasdaq: MSTR), participated in a segment on CNBC from the Caner Crypto, Digital Assets, and AI Infrastructure Conference in Miami on November 14.
Saylor promptly recognized that the “Red Wave,” a recent political shift, has been a substantial development for Bitcoin. He posited that the cryptocurrency market’s most advantageous development in the previous four years was the alteration in political leadership. A more favorable environment for Bitcoin’s value proposition has been established as a result of this transition, as well as the support of Wall Street, particularly BlackRock, according to Saylor.
MicroStrategy recently disclosed its intention to raise $42 billion in order to acquire additional Bitcoin. Specifically, he envisions acquiring each Bitcoin mined over the next three years at a price of $85,000 or higher per coin. Saylor stressed that MicroStrategy’s bold move shows their dedication to their Bitcoin-focused investment theory and their belief in the current bullish market conditions.
The discussion then shifted to regulatory matters, with a particular emphasis on the prospective appointment of a new SEC Chair by the new U.S. administration. Saylor emphasized that the SEC regulates bitcoin as a commodity, but other cryptocurrencies and crypto-related businesses, such as MicroStrategy, are subject to its jurisdiction. He acknowledged the importance of the appointment of a new SEC Chair in determining the future of digital asset regulation.
Saylor anticipates that the subsequent SEC Chair will be more in accordance with pro-business and pro-Bitcoin policies. He anticipates the establishment of a digital assets framework that would terminate what he termed a “war on crypto,” thereby enhancing regulatory transparency. He also noted that the industry’s future is favorable due to the broader political transition in the United States, which is characterized by the House, Senate, and White House all favoring pro-crypto policies. Nevertheless, he refrained from speculating on the identities of the new SEC leadership.
Saylor expressed his conviction that the present rally is not yet complete in response to Bitcoin’s price movement. He rejected the notion that Bitcoin could plummet below critical thresholds, including $60,000 and $30,000. He, on the other hand, expressed his conviction that Bitcoin will continue to appreciate, potentially surpassing $100,000 by the year’s conclusion. Saylor has already begun organizing a celebration for the occasion of Bitcoin’s crossing of this milestone, suggesting that a party is in the works for New Year’s Eve.
