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Billionaire Name Wrote a Rising Scenario for Cryptocurrency!
Bill Ackman, founder and CEO of Pershing Square Capital Management, presented an interesting scenario about the future of the leading cryptocurrency Bitcoin. Explaining how the increase in the price of Bitcoin could trigger energy costs and inflation through increased mining and energy use, Ackman suggested that this would reduce the value of the dollar and further increase the demand for Bitcoin. It is unclear whether this cycle will continue indefinitely or lead to the collapse of the economy.
Cryptocurrency statement from Bill Ackman
Bill Ackman, founder and CEO of Pershing Square Capital Management, took a fun foray into the world of Bitcoin on Saturday, outlining a scenario in which the price of the leading cryptocurrency could surge upwards, leading to unforeseen consequences.
Will there be an Ackman meeting with MicroStrategy?
The post predictably sparked a lively debate within the Bitcoin community. As Kriptokoin.com reported, Michael Saylor, founder and Chairman of MicroStrategy, known for its significant Bitcoin holdings, invited Ackman for a one-on-one conversation on the subject. Saylor disagreed with Ackman's reasoning about potentially purchasing Bitcoin. He suggested that Bitcoin mining actually reduces electricity costs for other consumers in many cases.
Ackman has generally kept his distance from Bitcoin and cryptocurrency in the past. While he acknowledged a small investment in some crypto projects and venture funds in 2022, he downplayed his involvement, saying, “I invest more as a hobbyist trying to learn rather than a careful investor.”
Ackman's interest in Bitcoin increased
However, this latest social media post shows that Ackman's interest in Bitcoin has increased; albeit a tongue-in-cheek take on the future of Bitcoin. The exchange between Ackman and Saylor highlights the ongoing debate surrounding Bitcoin's long-term impact, particularly its potential role in energy consumption and the global financial system.
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