Hedge fund mogul Ackman is considering buying Bitcoin

ChainCatcher News, American hedge fund giant and founder and CEO of Pershing Square Capital Management, Bill Ackman, predicts that the price of Bitcoin could soar to levels much higher than anyone imagines.

Ackman tweeted: "Imagine a scenario where the price of Bitcoin rises, leading to increased mining, increased energy usage, which in turn raises energy costs, causing inflation to rise, the dollar to devalue, driving demand for Bitcoin, increasing mining, pushing demand for energy, and so on. Bitcoin grows infinitely, energy prices skyrocket, and the economy collapses. Maybe I should buy some Bitcoin." However, Ackman later added, "Of course, the problem is that it could also work in reverse."

In response, MicroStrategy founder Michael Saylor commented under Ackman's tweet: "You should buy some Bitcoin, but not for the reasons above. Most Bitcoin miners are lowering the electricity costs for other consumers, not raising them."