If we talk about the most chaotic years for the cryptocurrency industry, the year 2022 would be at the very top. The entire cryptocurrency industry seems to have become a rollercoaster in the year 2022
However, Bitcoin seems to be facing the worst situation. Because Bitcoin has the highest user base, value, and market valuation, it has so much more than the rest to lose.
There is a huge investment community both from the cryptocurrency and the mainstream sector that is following Bitcoin. Its popularity and recognition make it a highly critical asset in the market.
The year 2022 is Scary
If the year 2018 was not a pleasant dream for the cryptocurrency industry then the year 2022 is the worst nightmare.
Throughout the year, the cryptocurrency sector has faced one Disaster after another. In most of the incidents, the problem started from a single project but turned out to be highly contagious.
Whenever it has happened, the entire crypto network has suffered from major losses.
This is the reason why analysts, market observers, and global decision-makers have continued questioning the fate of cryptocurrencies.
Major Personalities Speak in Favor of Bitcoin
As the future of the cryptocurrency industry is being questioned, it also includes Bitcoin (BTC).
Although there is not much being talked about by the highly influential people in the world about altcoins, they do have high hopes for Bitcoin.
Among these people are Michael J. Saylor, Edward Snowden, and surprisingly, Elon Musk. All three personalities recently opened up about their thoughts on Bitcoin, especially after the FTX collapse.
With the FTX collapse, the majority of cryptocurrency firms and cryptocurrencies have come under great scrutiny.
Investors and regulators have become highly cautious with cryptocurrencies due to the FTX crash.
Michael J. Saylor Remains Loyal to Bitcoin
Michael J. Saylor is among the most influential personalities when it comes to bringing millions of people to support Bitcoin.
He started supporting Bitcoin at the beginning of 2020 and has remained loyal to the largest crypto to this day. His followers and the rest of the world see no end to his support and faith in Bitcoin.
As per him, Bitcoin has nothing to be worried about because of the FTX crash. It is not a central entity like the FTX was and it is controlled by every person investing in it.
Saylor has predicted that in the next decade if BTC comes up to the same valuation as gold, its trading value would be $500,000 per BTC. In the following decade, BTC may trade at a high of $1,000,000.
Edward Snowden Shows Interest in Buying BTC
As per Snowden, it is the perfect opportunity to accumulate as much BTC as possible. The ex-NSA contract has never been short of supporting Bitcoin.
Even now when Bitcoin is down, he plans to buy it, demonstrating his faith and dedication to support the asset even when it faces its darkest days.
Elon Musk Sees Future in Bitcoin
Even the richest man in the world, Elon Musk is confident that Bitcoin will make it through a hard time. He predicted that Bitcoin would be among the handful of cryptocurrencies to survive the winter.
It has a strong future ahead of it and most of the mainstream investors know it. Therefore, they will continue backing it and pushing its price higher.