Why does the man at the helm of $14 billion suddenly want to buy BTC?
American hedge fund manager and billionaire Bill Ackman’s recent remarks about BTC have caused a huge stir in the Crypto asset community.
Ackman, the CEO of Pershing Square Capital, outlined some scenarios in which one might consider buying BTC.
Ackman theorized that increased demand and energy usage would drive BTC prices soaring, leading to higher energy costs, inflation, a weaker dollar, and further BTC demand.
Ackman believes that this situation could eventually lead to an economic collapse, prompting him to consider investing in BTC.
However, Ackerman also acknowledges that there is a flip side to this situation, namely its potential reversibility.
Ackerman said: “The rise in BTC prices has led to increased mining volume and increased energy usage, pushing up energy costs, leading to increased inflation, and depreciation of the U.S. dollar, driving further rise in demand for BTC.”
“But the increase in mining volume drives the demand for energy, and the cycle repeats. Ultimately, the demand for BTC tends to be infinite.”
