Michael Saylor, the founder of MicroStrategy, predicts the end of bear markets and significant growth for Bitcoin, but his forecasts raise questions and concerns.
End of Bear Markets: Saylor's Optimism
Michael Saylor is confident that "the winter will not return." According to him, if Bitcoin doesn’t fall to zero, it will inevitably reach one million dollars. He backs this up by stating that MicroStrategy holds over 582,000 Bitcoins, emphasizing the growing institutional interest in this asset, with around 450 Bitcoins mined daily.
Risks and Contradictions in Saylor's Prophecies
However, such optimistic predictions can raise eyebrows. Claiming that "the bear market will not come back" appears to be a self-fulfilling prophecy. Michael Saylor described his approach as the only way to raise market expectations, but such pronouncements could also expose investors to significant risks. His strategy, which includes Bitcoin-backed bonds offering a 400 basis point yield, assumes that regulators will not tighten control, which is also up for debate.
Bitcoin Privatized: Challenges to Decentralization
Another important issue is the growing privatization of Bitcoin by large institutional players. Structures like ETFs are actively absorbing this asset, raising questions about its original purpose as a tool for financial emancipation. Control over Bitcoin flows is now in the hands of asset managers, potentially leading to a confiscation of the spirit of decentralization.
While forecasts of Bitcoin's future price become increasingly optimistic, it is essential to remember the lessons of the past, as the path to success is based on acknowledging previous mistakes.
