Famous billionaire Bill Ackman shares an interesting price scenario about Bitcoin in his statement. Ackman, founder and CEO of Pershing Square Capital Management, opens up about bitcoin. Known for his sharp business acumen, Ackman presents a thought-provoking scenario that is shaking up the world of cryptocurrency.
Billionaire on Bitcoin
Ackman’s scenario paints a picture of a spiral cycle in which the rise in the bitcoin price leads to more mining activity. This leads to more energy consumption, which increases energy costs. Rising energy costs cause inflation and the dollar falls, increasing the demand and mining of bitcoin. According to the American venture investor, this cycle continues in this scenario, leading to an endless rise in the value of bitcoin, skyrocketing energy prices and a potential economic collapse.
“Maybe I should buy some Bitcoin,” Ackman concludes.
In response to Ackman’s scenario, Michael Saylor, a well-known Bitcoin proponent, suggests that Ackman should indeed invest in Bitcoin, but not for the reasons Ackman mentions. Saylor argues that most bitcoin miners reduce electricity costs for other consumers rather than increasing them. He offers to discuss this problem with Ackman personally.
You should buy some #bitcoinbut not for the reasons cited above. Most bitcoin miners are driving the cost of electricity down for other consumers, not up. Let me know if you would like to discuss 1 on 1.
— Michael Saylor⚡️ (@saylor) March 9, 2024
At the time of writing, the price is above $71,500, and bitcoin has once again broken a price record.
Source: https://bitcoinmagazine.nl/nieuws/miljardair-met-een-vermogen-van-43-miljard-bitcoin-heeft-de-kans-om-voor-altijd-te-stijgen-misschien-moet-ik-het-kopen
