Bitcoin faces only one ‘legitimate risk,’ MicroStrategy CEO Michael Saylor says

Bitcoin faces only one ‘legitimate risk,’ MicroStrategy CEO Michael Saylor says

Bitcoin (BTC-USD) is down more than 20% from its record high and is set for its fourth straight weekly decline. Crypto bulls, as always, are keeping the faith. That includes MicroStrategy CEO Michael Saylor, who added bitcoin to his company’s balance sheet last year. Since then, he’s been an outspoken advocate. Right now, he doesn’t see many — any? — long-term obstacles to prices going higher.

“The only legitimate risk is a black swan – an unknown unknown,” he said in an interview. He dismissed some potential challenges: “Has it been hacked? No, it hasn’t been hacked. Is it going to be banned? No, it’s not going to be banned. Can it be copied? We copied it ten thousand times. Every copy has failed.”

Saylor has said that he believes bitcoin can go up forever, a sentiment he repeated to Yahoo Finance Live. Two of the main drivers, he said, are technology adoption and inflation.