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.
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