This statement is likely to reduce the anxiety of crypto investors who are facing a gloomy atmosphere for the crypto market throughout 2022 which is affected by the policy tightening phase by the world's main central banks.
Michael Saylor, co-founder and Chairman of the company MicroStrategy predicts the price of Bitcoin (BTC) will reach a high of $69,000 within the next four years.
The 57-year-old entrepreneur has distinguished himself as a staunch supporter of cryptocurrencies over the past few years and his company is the largest corporate holder of BTC with 130,000 BTC.
During his latest interview, he predicted that the major digital asset would trade at $500,000 if it matched the market capitalization of gold.
Although gold's market cap is around $11 trillion while BTC is $365 billion, Saylor often prioritizes his support for cryptocurrencies.
As proof, Saylor not only said that BTC is 50 times better than metal but he also predicted that it will increase to $1 million in the next year even though some investors think the price of the digital asset will be zero.
A few days ago, MicroStrategy spent $6 million to buy 301 BTC at an average price of $19,851 per token but his company suffered huge losses after the market crash.
It is understood that MicroStrategy managed to spend $4 billion to accumulate its savings which now amount to $2.5 billion.
