Satoshi

Core

2024

Bitcoin

Time

<h2 id="key-points">Key Points</h2> 
<ul> 
 <li>Michael Saylor believes Bitcoin offers “economic immortality.”</li> 
 <li>More optimistic predictions arise, despite BTC’s price drops.</li> 
</ul> 
<p>In a recent interview, Michael Saylor, the executive chairman and co-founder of MicroStrategy, said that Bitcoin will reach $10 million and the entire nation of China will get behind the coin.</p> 
<p>He addressed the difference between perfect and imperfect money, highlighting that perfect money is “economic immortality”, while imperfect money involves a “short, brutal life.”</p> 
<blockquote class="twitter-tweet"> 
 <p dir="ltr" lang="ca"><a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">#Bitcoin</a> is Economic Immortality.<a href="https://t.co/ZtLzUK4kO6" rel="nofollow" target="_blank">pic.twitter.com/ZtLzUK4kO6</a></p> 
 <p>— Michael Saylor<img src="https://s.w.org/images/core/emoji/14.0.0/72x72/26a1.png" alt="⚡" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@saylor) <a href="https://twitter.com/saylor/status/1804867203075866731?ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">June 23, 2024</a></p>
</blockquote> 
<p>In the interview, Saylor mentioned the question of whether a company could live forever, saying that everything that’s come before Bitcoin, from an economic point of view, has been made obsolete with the introduction of the digital asset.</p> 
<p>He said that economics is pseudoscience before Bitcoin’s creator, Satoshi Nakamoto. Saylor explained that it’s a “quasi-religious liberal art”, full of people’s opinions, prejudices, and biases.</p> 
<p>According to him, all the economists before Satoshi have been trying to work out the laws of economics with pieces of paper and credit instruments.</p> 
<p>Overall, Saylor believes that companies that invest in Bitcoin will last longer compared to the ones that remain in the corporate scene. He said that the average life expectancy of a corporation is about 10 years, addressing the need to eliminate corporate mortality.</p> 
<p>He believes that Bitcoin can stretch economic vitality by 10 times, even a million.</p> 
<p>Saylor also mentioned that the Chinese people and government will embrace Bitcoin, predicting that sometime in the future, BTC will be even worth $10 million.</p> 
<h2 id="more-optimistic-btc-price-predictions-arise-despite-price-drop">More optimistic BTC price predictions arise, despite price drop</h2> 
<p>At the moment of writing this article, BTC is trading above $62,000.</p> 
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<p>During the weekend, the revenue per terahash per second (TH/s) for miners has reached <a href="https://crypto.ro/en/news/ethereum-fee-and-bitcoin-mining-revenue-nearing-all-time-lows-what-you-need-to-know/">record lows</a> in the past two months, with a potential cause for reduced profitability being the decrease in new wallets joining the BTC ecosystem.</p> 
<p>Despite this, CleanSpark and other mining companies continue to perform well, with Bitfarms and Core Scientific exceeding BTC’s price year-to-date as well.</p> 
<p>Bitcoin continues to remain surrounded by <a href="https://x.com/Roman_Trading/status/1803910950648533133" rel="nofollow" target="_blank">optimistic predictions</a>, regardless of its price action, with analysts and traders highlighting that the coin’s price is simply consolidating below the previous ATH.</p> 
<p>Today, Bitcoin on-chain analyst, Willy Woo, addressed the Fed’s report of CPI inflation, saying that what people really need to beat is CPI and monetary debasement.</p> 
<p>He<a href="https://x.com/woonomic/status/1805118409752842245" rel="nofollow" target="_blank"> said</a> that this is normally around 8% and while gold keeps it on par, SP500 will beat it by 3% and BTC will beat it by 20%-70%.</p> 
<p>He also shared a graph showing CPI inflation with a yellow line, and CPI plus monetary debasement with a white line.</p> 
<p><a href="https://x.com/woonomic/status/1805118409752842245/photo/1" rel="nofollow" target="_blank"><img loading="lazy" decoding="async" class="alignnone" src="https://pbs.twimg.com/media/GQ0PVVNW4AAHrDP?format=jpg&amp;name=4096x4096" alt="" width="2164" height="1466" title="Bitcoin Is &quot;Economic Immortality&quot;, Michael Saylor Says Amidst Optimistic Price Predictions 24"></a></p> 
<p>Woo has been also reiterating his prediction that once the miner capitulation post-halving is over, we will see a price recovery for the coin. He also offered a potential timeline of <a href="https://crypto.ro/en/news/bitcoin-above-64k-as-miners-sell-almost-2b-in-btc-in-june-price-recovery-expected-in-1-4-weeks/">1-4 weeks</a> for this to happen.</p>

Bitcoin Is “Economic Immortality”, Michael Saylor Says Amidst Optimistic Price Predictions

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