Michael Saylor presented to Bloomberg

[MarkRoberts]

Michael Saylor presented to Bloomberg, the sudden price drops were a result of the handful of China miners who, by imposition, were forced to liquidate their assets. Nevertheless, Michael continues to believe this regulation is a ‘trillion-dollar mistake’ that other nations will jump on to make right.

“China had a 50% market share of Bitcoin, and they were generating $10 billion a year and a business that was growing 100% year over year. And then, the government cracked down on it and squeezed the entire industry out of China. I think that given the growth rate of Bitcoin, this will turn out to be a trillion-dollar mistake for China.”
We Move!

Saylor is well aware China is a superpower, and losing a trillion worth of dollars is not an issue. However, the situation at hand is still tragic, and the low prices will serve western investors to accumulate more at a discount.


MyCryptoParadise
[url]https://mycryptoparadise.com/[/url]

[CryptoStar19]

Distribution of the concentration of hash-rate out of China is a good thing for bitcoin long-term. The effect on price is not based in fundamentals... this FUD will blow over soon or later.