MicroStrategy CEO Michael Saylor argues that a trillion-dollar error will be China’s decommissioning of Bitcoin miners. To the Bloomberg reporters, the businessman told this.
Over the last month, China has raised considerable pressure on miners to cease their work in the main provinces and force them physically to relocate outside of the nation with their capacity. Most of them are already transporting their equipment to the USA and Kazakhstan, analyzing the local rules and electricity tariffs, and Bitmain is keen to help them.
Saylor, one of China’s most dedicated Bitcoin fans, claimed that the migration of miners from China is called the “hazardous driving force,” and China suppressed cryptocurrencies in vain. According to him, China made more than $10 billion a year and increased by 100% annually, so giving up mining is a trillion-dollar error for the country, given the growth rate of the biggest cryptocurrency on the market.
On the other side, the “abolition” of cryptocurrencies in China will provide substantial benefits to Bitcoin miners in North America, according to the CEO of MicroStrategy. The Saylor corporation itself plans to purchase Bitcoins actively in the coming decade.
He referred to Bitcoin in his interview as “dematerializing property” and a long-term trend, one million times more efficient than “keeping all of your assets behind you.” Moreover, the coming of more gradual US regulation agencies from the Biden administration would strengthen cryptocurrencies and reaffirm a revolution that has been similar to that of smartphones over the last ten years.