BTC price cooled off after an impressive 30% monthly gain, but MicroStrategy CEO Michael Saylor made the case for why he remains bullish on Bitcoin.) price came within a hair of the $36,000 mark, before abruptly reversing course and correcting to $34,250. After a near 30% run over the past month, it is natural for the price to cool off as some traders take profit and market participants evaluate whether or not the catalysts for the rally remain valid.
When asked whether he believed the well of institutional investor interest had been poisoned by “bad and dark applications of this cryptocurrency and people like “I think that the liabilities or the early crypto cowboys, the crypto tokens which are unregistered securities, the unreliable crypto custodians, for the industry to move to the next level, we’re going to need to migrate to adult supervision.”Regarding the current investing climate, Saylor suggested that “If you’ve got a 12-month to 48-month time horizon, this is a pretty ideal entry point into the asset.
“When banks on Wall Street and responsible custodians are managing Bitcoin and the industry takes its eyes away from all the shiny little tokens that have distracted and demolished shareholder value, I think the industry moves to the next level and we 10x from here.” This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
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