Michael Saylor, a well-known Bitcoin advocate and the founder of the business intelligence company MicroStrategy, recently conducted a Twitter survey to gauge the opinions of Bitcoin users on what price they should consider selling part of their BTC holdings. The results of this survey, which involved over 112,000 participants, provide an interesting perspective on the expectations and strategies of BTC investors.
In the survey, Saylor asked his 3.1 million followers on the X app what the price of Bitcoin should be before they would start selling some of their BTC. The results revealed that a minority, approximately 14.2% and 18.9%, chose price levels of $250,000 and $500,000, respectively. However, the majority of voters fell into two main categories. 36.4% opted for the “from $1 million to never” option, while 30.6% voted for the “$100,000” option.
How high will $BTC need to rise before you would consider selling a small portion of your #Bitcoin?
— Michael Saylor⚡️ (@saylor) December 6, 2023
Most surprisingly, the vast majority expressed their intention not to sell Bitcoin until it reaches the $1,000,000 mark, or even stated that they would not sell even if that figure is reached. This result indicates a strong conviction among survey participants in the long-term appreciation of BTC.
Extremely Bullish Forecasts for Bitcoin
Preston Pysh, an influential figure in the Bitcoin community, suggested that it would be interesting to weigh the responses based on the number of coins each vote represents. This weighting could show strong support for the stance of “never selling for less than $1 million.”
Meanwhile, Saylor’s company, MicroStrategy, continues to bet on Bitcoin. Approximately a week ago, they announced the acquisition of 16,130 BTC worth $593.3 million, with an average purchase price of $36,785. This further increases MicroStrategy’s total BTC holdings, which now amount to $174,530.
In a broader context, Samson Mow’s predictions that Bitcoin will eventually reach $1,000,000 reinforce optimism about the future of Bitcoin. Mow bases this expectation on the ongoing influx of institutional money into Bitcoin and the upcoming BTC halving event scheduled for April next year.
According to the latest data from CoinMarketCap, BTC is currently trading at $43,227 after a 1.83% drop. Its market capitalization is approximately $846 billion, with a 24-hour trading volume of $27 billion.
