The leading cryptocurrency Bitcoin (BTC) rose above $ 100,000 with the upward momentum it experienced, then dropped sharply and suddenly to $ 90,000.
This decline has investors worried, and there is concern about whether there will be further declines.
At this point, famous Bitcoin bull Michael Saylor said that an 80% collapse in Bitcoin is unlikely.
MicroStrategy founder Michael Saylor addressed his personal Bitcoin purchases in an interview with Yahoo Finance, stating that he does not expect a major crash in the BTC price.
Saylor, who admitted that an 80% collapse in Bitcoin is theoretically possible, stated that he believes this will not happen in practice.
While Bitcoin has seen pullbacks, Saylor said he does not believe BTC will experience a major correction in 2022 like the previous cycle, when it fell 80% from $66,000 to $16,000.
“For a drop like this to happen, there would have to be a bunch of very poorly capitalized companies like FTX, Genesis, Celsius and BlockFi that would go bankrupt. But right now, there are no such companies in the market, and it seems very unlikely that this scenario will happen again,” Saylor said.
Saylor also noted that Bitcoin’s high volatility has not hindered his company’s regular BTC purchase strategy, which he funds by issuing MSTR shares.
Saylor said that MicroStrategy's Bitcoin-based return has brought in $12.3 billion in profit this year, making MicroStrategy the most profitable, fastest-growing company in the Bitcoin standard.
*This is not investment advice.
