Tech News, Magazine & Review WordPress Theme 2017
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro
No Result
View All Result
The Daily Hodl
No Result
View All Result

10 Billionaires Could Triple the Price of Bitcoin, Says MicroStrategy’s Michael Saylor

by Daily Hodl Staff
November 22, 2020
in Bitcoin
‏‏‎ ‏‏‎ ‏‏‎ ‏‏‎

The founder and CEO of the world’s biggest publicly traded business intelligence firm says that it will only take a handful of multi-billionaires to make the price of Bitcoin skyrocket.

ADVERTISEMENT

In an interview on the Once BITten Podcast with Daniel Prince, Michael Saylor says there are some entities that would only have to drop a certain percentage of their portfolio to ignite a steep rise in the price of Bitcoin.

“There are people that’ll put $500 million into a bad idea. If you’ve got $100 billion in your portfolio, you might bet $500 million expecting you’ll get 100 to one return 1% of the time or 5% of the time and think that’s a good idea. So I think that’s why everything’s accelerating. It’s a fire. It’s a campfire, then it’s a bonfire, then it’s a forest fire, then you’re like ‘I don’t get it, why is the fire spreading twice as fast?’ Well, because this is an exponential process.”

ADVERTISEMENT

Saylor goes on to explain that the first person who is sold on BTC and invests a few billion dollars in the largest cryptocurrency will put more energy into the Bitcoin network than the last 10 million people combined.

“It’s important that 100 million people embrace Bitcoin but there are 10 people that can triple the price of Bitcoin. 10. This is not like Facebook, nobody ever brought a billion friends to Facebook… This is like when a person with $10 billion decides that they want to adopt this network and they put $2 or $3 billion on the network, that’s going to be more monetary energy that flowed into the network than the first 10 million people put into the network. It’s a ten million to one gain.

Here’s the other thing. When a person with $10 billion puts $10 billion on the network, they’ve got a friend with $10 billion. Warren Buffett (Berkshire Hathaway CEO) plays bridge with Bill Gates (Microsoft founder) and then they talk with Mark Zuckerberg (Facebook CEO and founder). So when this hits that social network, it’s like a billion to two billion to four billion to eight billion and those four decisions, those four blocks have more impact on the network than the first 10 million blocks.”

I


Check Latest News Headlines


ADVERTISEMENT


Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/gopixa

Submit a Press Release

Crypto Livewire – Press Releases

  • Mogul Brings NFTs and DeFi to the Film Industry, Announces Access Pass Sale
    March 5, 2021
  • eToro and DS TECHEETAH Change Face of Sponsorship With Unique Profit Only Deal
    March 3, 2021
  • Unifi Farms Beta Launches on Unifi Protocol to Pioneer No-Stake Farming
    February 26, 2021
  • Bang Bang: Critical Factors Fueling Rise of the Retail Investor
    February 25, 2021
  • How Traders Make Money in Both Bull and Bear Markets on BigoMex
    February 25, 2021
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$48,565.00
$48,565.00
0.55%
Ethereum
$1,525.95
$1,525.95
0.52%
Binance Coin
$226.47
$226.47
1.65%
Polkadot
$33.55
$33.55
4.43%
Cardano
$1.16
$1.16
4.32%
XRP
$0.458458
$0.458458
1.06%
ADVERTISEMENT

Spotlight

  • Crypto Exchange Sells Thousands of Bitcoin for $6,000 Each Amid Surge in Market Volatility: Report
    February 26, 2021
  • These Are the Four Most Explosive Crypto Assets on the Market, According to Trader Ben Armstrong
    March 2, 2021
  • New Group of Crypto Assets Are Ready To Erupt, Says Trader Tyler Swope
    February 27, 2021
  • MoneyGram Facing Class-Action Lawsuit Over Relationship With Ripple and XRP
    March 3, 2021

DON’T MISS A BEAT

Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options

By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.

Check your inbox for confirmation email.

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX • Explore • Futuremash •
Crypto Livewire

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2021 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro

© 2020 The Daily Hodl

×
We use cookies to give you the best online experience possible. Continue browsing if you are happy with that, or see how to manage cookies.