Saylor predicts a crypto market reversal
Michael Saylor, whose fund Strategy now holds 4% of all Bitcoin in existence, called the next 10 years a “gold rush” for BTC and said the bear market is over.
He’s also back to buying: a few days ago, Strategy bought another $143 million worth of BTC.
What’s interesting:
Saylor believes the next major growth driver will be traditional banks. They’ll start issuing loans backed by BTC, just like they currently lend against real estate or stocks. In his view, this could be the biggest factor driving the price over the next three years.
Essentially, this process is already underway. The crypto lending market has grown to $67 billion, and major U.S. banks have already started offering Bitcoin-backed loans.
The market itself is also starting to pick up. BTC is up 40% this quarter alone, while Bitcoin ETFs saw another $2.4 billion in inflows last week.
Michael Saylor, whose fund Strategy now holds 4% of all Bitcoin in existence, called the next 10 years a “gold rush” for BTC and said the bear market is over.
He’s also back to buying: a few days ago, Strategy bought another $143 million worth of BTC.
What’s interesting:
Saylor believes the next major growth driver will be traditional banks. They’ll start issuing loans backed by BTC, just like they currently lend against real estate or stocks. In his view, this could be the biggest factor driving the price over the next three years.
Essentially, this process is already underway. The crypto lending market has grown to $67 billion, and major U.S. banks have already started offering Bitcoin-backed loans.
The market itself is also starting to pick up. BTC is up 40% this quarter alone, while Bitcoin ETFs saw another $2.4 billion in inflows last week.