Stephen Alpher is CoinDesk's managing editor for Markets. He holds BTC above CoinDesk’s disclosure threshold of $1,000.
on Saturday afternoon, cheekily suggesting a scenario in which the price for the world's largest crypto could soar far higher than anyone might imagine.
"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," said Ackman"Bitcoin goes to infinity, energy prices skyrocket, and the economy collapses," he continued."Maybe I should buy some Bitcoin.
Unsurprisingly, Ackman's post drew quick response from many in the Bitcoin community, including from MicroStrategy founder and Executive Chairman Michael Saylor, who offered to speak to Ackman directly on the subject.."Most bitcoin miners are driving the cost of electricity down for other consumers, not up. Let me know if you would like to discuss 1 on 1."
Ackman mostly has steered clear of bitcoin and crypto in general, though in 2022 said he was a small investor in some crypto projects and crypto venture funds."I invest more as a hobbyist trying to learn than as a careful investor,"in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence.
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