The crypto market has been at its worst due to a lot of pulling and jolting of the price and volatility playing its own games just like always. It was assumed that the bear market that has become overstretched would continue to persist, and hopes of a price reversal seemed bleak, but then the crypto market did what it is known to do every now and then. It showed a strong price reversal, and for the first time in weeks, the market was finally in the green, a soothing sight for traders and analysts alike. Not only bitcoin but almost every other crypto token out there gave a hearty performance, to say the least.
MicroStrategy, a business intelligence firm dealing with various investment types in the commodity and crypto market, is known for investing heartly in Bitcoin, and it is said that it is the only business entity on the planet having the highest possible volume of Bitcoin tokens. For it has not sold even a single token since it began accumulating those back in the day.
Michael Saylor, the ex-CEO of the firm, has confirmed that sooner or later, Bitcoin is going to replace gold for good, and presently it is in the process of demonetizing Bitcoin. It is a slow process, according to Michael, but it has already begun.
Bitcoin is Going to Win the Race
He said that sure volatility is always at its extreme when taking into account any entity from the crypto market; analysts, traders, and even crypto enthusiasts are afraid of it. But it doesn’t in any shape or form deescalate the gradual race of Bitcoin to the summit.
It is going to be characterized by extreme volatility and highs and lows in terms of the price performance, but eventually, it is going to get there; it has to, or otherwise, what is the point of bitcoin, argued Saylor. It would be a grand day to see Bitcoin replace gold which is considered the standard of wealth, for when it did replace gold, it would have replaced the Dollar being the central fiat entanglement of the world.