Billionaire Bill Ackman Playfully Speculates on Bitcoin’s Infinite Rise

• Ackman further stated that it could be a good idea for him to invest in Bitcoin.
• Saylor even volunteered to have a private conversation with Ackman about the matter.

On Saturday afternoon, Bill Ackman, founder and CEO of Pershing Square Capital Management, diverted part of his focus to Bitcoin, playfully speculating that the price of the greatest cryptocurrency in the world may go far higher than anybody could have predicted.

Ackman in a post on twitter stated:

“Bitcoin price rise leads to increased mining and greater energy use, driving up the cost of energy, causing inflation to rise and the dollar to decline, driving demand for Bitcoin and increased mining, driving demand for energy and the cycle continues.”

Saylor at the Forefront

He went on to say that when Bitcoin reaches infinity, energy costs would surge and the economy will collapse. Ackman further stated that it could be a good idea for him to invest in Bitcoin. It also works in reverse, which is an issue, he subsequently noted.

Michael Saylor, founder and executive chairman of MicroStrategy (MSTR), was among the several Bitcoin community members who reacted swiftly to Ackman’s statement. Saylor even volunteered to have a private conversation with Ackman about the matter.

He went on to say that you should invest in bitcoin, but not for the reasons mentioned before. The majority of bitcoin miners are really reducing power costs for other customers, not increasing them. Notify me if you’re interested in a one-on-one meeting, Saylor stated.

Although Ackman admitted to making a tiny investment in a few crypto ventures and crypto venture funds in 2022, he has mostly avoided bitcoin and crypto in general. In his earlier statements, he admitted that he was more of a learner investor than a meticulous investor.

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