Billionaire Bill Ackman: Bitcoin Will Soar

Billionaire investor and CEO of Pershing Square Capital, Bill Ackman, expressed optimism towards the first cryptocurrency and suggested that the US dollar may weaken due to increasing inflation.

In his statement, Ackman hypothesized that rising Bitcoin prices could lead to heightened energy production and consumption, resulting in higher energy costs and increased inflation.

This, in turn, could drive demand for Bitcoin, leading to further energy consumption and a potential cycle of perpetual growth. The billionaire even contemplated buying Bitcoin because of this scenario.

Furthermore, Ackman acknowledged that this cycle could also work in reverse, causing a rise in Bitcoin prices. His comments attracted the attention of Michael Saylor, a staunch supporter of Bitcoin and the founder of MicroStrategy.

Saylor suggested that Ackman should consider investing in Bitcoin for other reasons and offered to discuss it with him privately.