Bitcoin is becoming 100 trillion assets – CEO of Microstrategy
Updated On January 9, 2023 | by Joseph Williams
Bitcoin is becoming more popular, and some countries are serious about it. In El-Salvador, bitcoin became legal tender, which means every citizen of El-Salvador can use bitcoin as fiat currency since it was declared legal tender. Likewise, in India, the government is taking strict actions and is serious about cryptocurrency. The prime minister will announce some regulations regarding bitcoin use, and will also encourage the democratic countries to adopt specific rules and regulations to prevent illicit activities through bitcoin. Bitcoin is becoming popular day by day, and it forces the people or government to make crucial decisions. So you can make a judgment on how popular bitcoin is. The price of bitcoin in January 2021 was 34,622 dollars, and the current price of bitcoin was 57,645 at the time of writing this article.
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This article will focus on the statements of the CEO of Microstrategy. Bitcoin is becoming a hundred trillion assets. So without wasting time, let’s explore the hundred trillion assets.
Bitcoin in brief:
Bitcoin is the first cryptocurrency that provides many benefits to its users. The market capitalization of bitcoin is one trillion, one of the popular cryptocurrencies with a high capitalization. Bitcoin does not allow third parties to be involved in the processing because it is an open-source system and many miners work behind the network. Furthermore, it is a cryptocurrency, which can not be hacked because many computers are working behind it. If you want to break the security, you have to hack all the nodes in the world working behind it; hence, it can never be hacked. Visit this link for more details:- bitcoin campaign
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Bitcoin Vs. Gold:-
In the latest interview, the CEO of Microstrategy said that bitcoin is a winning currency or asset, and gold is losing assets in concern to the store of value. Gold has become the oldest method of investment, and people are now more aware of the technology. People invest money in digital gold because they know that the price of bitcoin increases every year, and a lot of people earn a lot from the bitcoin crypto-investment.
Gold is not more volatile than bitcoin because some people with a traditional mindset purchase gold as an investment, but the modern people, who think in modern terms, prefer to invest in bitcoin.
The digital coin, i.e., bitcoin, will replace gold because people know that bitcoin is more accessible to store than gold, and there are multiple bitcoin uses. Still, you can use gold for jewelry and investment.
There are a lot of bitcoin regulations in existence in different countries, but the CEO is not worried about the regulations, he said, and this asset will grow by 100X from its price today. According to the CEO of Microstrategy, Bitcoin is the only asset that will become 100 trillion in market capitalization.
In the recent interview, he said that his company holds 1,14,042 bitcoin, and when asked, will your company keep hold of these bitcoins or sell it, and then he replied that we would hold them for life.
Bitcoin value is increasing:
The price of bitcoin doubles every year, according to the price history of bitcoin. Many people hold bitcoin for years to get high returns, and many new people are involved in the bitcoin cryptocurrency. The price of bitcoin depends upon the demand and supply, and the demand and supply of bitcoin depend upon different factors. So let’s briefly explain the factors that affect the demand and supply of bitcoin value, given below:-
- Positive and negative news plays a vital role in bitcoin price fluctuations. Many people make decisions on behalf of this trendy news, whether they are positive or negative. Positive news like the price of bitcoin can touch up to $1,00,000 in a few months, and after reading this news, many people will start buying bitcoin at the market price, and the market will go up. On the other hand, negative news like that bitcoin will be banned in this country will force the country’s citizens to sell all the bitcoins that will decrease the bitcoin price.
- Bitcoin supply is limited to other cryptocurrencies because it is very complex to solve mathematical equations. And to produce bitcoin, there is a need for high computational power that cannot be produced at home, and an ordinary miner cannot solve the complex equations to broadcast new bitcoin on the network. Hence, the supply of bitcoin cryptocurrency is complicated.