MicroStrategy's chairman and co-founder Michael Saylor believes the price of Bitcoin has found a stable bottom at around $20,000.
From here, he expects the flagship crypto to retake its former peak price levels of around $60,000 within the next four years.
Saylor made the comment during an interview with MarketWatch's inaugural 'Best New Ideas in Money Festival.' Saylor told MarketWatch's editor-in-chief Mark DeCambre that he has been watching Bitcoin's simple moving average over four years for a potential bottom.
This metric currently stands at around $20,000. “It has touched that a few times. I think this is stable. The next logical stop for bitcoin is to replace gold as a non-sovereign store of value asset,” Saylor said.Read more on cryptonews.com