The beauty of the crypto market is its extreme volatility which offers enormous trading opportunities. Currently, crypto traders welcome the highly-anticipated rally in the crypto market. Billionaire hedge fund manager Bill Ackman shared his ideas for the future of the flagship cryptocurrency. Ackman has gained recognition in the investing world because of his extraordinary market vision and bold investment strategies.
He reckons that Bitcoin is set for a stellar rally without considerable pullbacks. “Bitcoin price rise leads to increased mining and greater energy use, driving up the cost of energy, causing inflation to rise and the dollar to decline, driving demand for Bitcoin and increased mining, driving demand for energy and the cycle continues,” he posted on social media platform X. Miners are likely to win under this realistic scenario. “Bitcoin goes to infinity, energy prices skyrocket, and the economy collapses. Maybe I should buy some Bitcoin,” Bill Ackman concluded. His post followed a historic record set by Bitcoin on March 8 when its price broke through $70,000 for the first time ever.
While the investor views short-term crypto trading as a speculative activity, he believes Bitcoin will possess intrinsic value in the long run. “Speculation is just a bit like trading crypto… well, short-term trading crypto. Maybe in the long run, there’s intrinsic value,” he predicted.
Michael Saylor, the co-founder and ex-CEO of MicroStrategy, is well-known as another crypto fan. He believes that Bitcoin will replace gold as the global store-of-value asset. The top executive insisted on including Bitcoin in his company’s investment portfolio. Since 2020, the company has been buying huge portions of Bitcoin. Nowadays, MicroStrategy is acknowledged to have the largest corporate holdings in Bitcoin.
Both highly successful investors are on the same page when it comes to bullish forecasts for Bitcoin.
