MicroStrategy co-founder Michael Saylor recently shared his predictions for Bitcoin (BTC) for the next eight years. According to him, by 2031, BTC will become a global store of value thanks to the factors he highlighted.
The role of institutions
Michael Saylor, co-founder of MicroStrategy, predicts that Bitcoin (BTC) will become a global store of value within the next eight years. According to him, the flagship cryptocurrency will have to go through three main stages to get there. First, it is an institutional adoption. The co-founder of MicroStrategy believes this is a critical factor in turning Bitcoin (BTC) into a global store of value.
Regulators such as the CFTC and SEC have a big role to play in this adoption, he said.
Full Review of Sailor
For Michael Saylor, this adoption has already begun. Thus, he drew attention to such giants as Blackrock and Fidelity. Indeed, the latter have chosen to stay away from technology. But for a while, they clearly could not withstand the potential of Bitcoin (BTC).
Lightning Network Technology Catalysts Growth
The Lightning Network is a layer 2 solution built on top of the Bitcoin protocol. According to Michael Saylor, this technology is also an important element in the transformation of the flagship cryptocurrency into a global store of value. This allows you to increase the speed and profitability of transactions through the use of decentralized payment channels.
For the same reason, MicroStrategy plans to develop applications based on this solution. The Lightning Network is estimated to have the potential to reach millions of users and therefore facilitate mass adoption.
Inflation and interest rates
The health crisis associated with the war between Ukraine and Russia did not help the global economic situation. Inflation has become the norm. So to combat this scourge, the US Federal Reserve activated its rate hike machine. Unfortunately, this decision is a double-edged sword, as it makes traditional assets less attractive. However, this situation has the advantage that it stimulates demand for alternative assets such as bitcoin (BTC).
Michael Saylor’s analysis certainly contains a logic that no one can ignore. However, the evolution of bitcoin (BTC) in recent years has shown that it is better to remain cautious.
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The failed cryptocurrency investment in 2017 not only did not dampen my enthusiasm, but only increased my enthusiasm. Therefore, I decided to study and understand the blockchain and its many applications, as well as pass on information regarding this ecosystem with my pen.