Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure
Over the course of its existence, Bitcoin, the crypto king, has transitioned from a mere asset to what many consider the digital version of Gold. During the period, many prominent figures and institutions have continuously demonstrated their trust in the asset as digital gold by their massive adoption of the coin.
Prosperity Linked To Bitcoin Adoption
As Bitcoin’s digital gold status strengthens, Michael Saylor, one of Bitcoin’s most vocal advocates and executive chairman of Strategy, has dropped a bombshell on BTC in a recent interview on CNBC. The executive chairman has once again declared BTC as an asset that drives prosperity and freedom.
Related Reading: “Buy More Bitcoin Before It’s Too Late,” Michael Saylor Tells The US Government
In the interview, Saylor maintained that for individuals, businesses, and even governments hoping to prosper in the digital era, adopting the assets is not just an investment choice but also a strategic necessity. It is worth noting that Bitcoin adoption has significantly picked up pace in the crypto and financial sector.
Sharing insights on the aftermath of the development, Saylor stated that when players accumulate a lot of BTC, these coins will be burned after they leave. As a result, a Pro Rata is created, which contributes to members of the community, especially those who own BTC around the globe, based on their contribution and knowledge.
Presently, Bitcoin is gaining strong support in the financial landscape. According to the chairman, this backing of BTC, which he believes is a great thing to do, is nothing less than a “protocol for prosperity.” By portraying BTC as a basis for financial expansion and stability, the chairman keeps up the argument that its adoption will shape the future economic environment.
Saylor’s latest remark on Bitcoin is a testament to his unwavering support for the crypto, as evidenced by the massive accumulation of BTC by his company Strategy. With Saylor as chairman, the firm has made history in BTC exposure, becoming the largest institutional holder of the digital asset.
Over time, Strategy has made significant success with BTC, with many other big companies now following in its footsteps. Despite this notable success, Saylor is more concerned about the move to help BTC gain more mainstream attention. “I hope I’m known for having taken the torch from Satoshi and going on to commercialize Bitcoin with corporations and governments decades after he passed,” he stated.
BTC’s Price To $200,000 By Year End
With Bitcoin adoption growing sharply, Tom Lee, Fundstrat Global Advisors’ head of research, has made a bold BTC prediction for the rest of the year. Lee is confident that by the end of the year, the flagship asset will surge to a $200,000 value.
Related Reading: Bitcoin Is Replacing Gold And Heading For A Million-Dollar Valuation, Tom Lee Declares
According to Lee, BTC has stalled recently because the Fed has been on pause for 9 months. However, the head of research believes that Bitcoin will pick up its pace after the rate cuts on September 17. He points to the event as a major catalyst to spur this move to $200,000, and also the fact that Q4 has historically been a bullish period for BTC and cryptocurrency.
BTC trading at $114,106 on the 1D chart | Source: BTCUSDT on Tradingview.com
Featured image from Pixabay, chart from Tradingview.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
