Billionaire Bill Ackman, the chief executive of hedge fund Pershing Square Capital Management, has made a bold statement about the potential of Bitcoin in the case of an economic collapse. Ackman believes that Bitcoin’s price could skyrocket “to infinity” in a scenario where its value continues to rise, driving up energy costs, causing inflation, and ultimately leading to the collapse of the economy.
In a recent social media thread, Ackman outlined his theory, suggesting that the increasing demand for Bitcoin could create a never-ending cycle that propels its price to unprecedented levels. However, Michael Saylor, the executive chairman of MicroStrategy and a longtime Bitcoin proponent, disagreed with Ackman’s assessment, stating that Bitcoin miners are actually driving down the cost of electricity for other consumers.
Despite the differing opinions, Bitcoin is currently trading at $68,592, experiencing a slight decrease in value over the last 24 hours. Ackman, who previously expressed skepticism about digital assets due to their potential for fraudulent use, has since changed his stance after recognizing the intrinsic value of crypto assets through projects like Helium (HNT).
As the debate over Bitcoin’s potential continues, investors are advised to conduct their own research and due diligence before making any high-risk investments in cryptocurrencies. The Daily Hodl reminds readers that all transfers and trades are done at their own risk, and the publication does not provide investment advice. Stay informed by subscribing to email alerts and following The Daily Hodl on social media platforms for the latest updates on Bitcoin and digital assets.
