Bitcoin (BTC) will be the savings method of pick for 1 billion people on their phones past 2026, MicroStrategy CEO Michael Saylor predicted.

In an interview with CNBC on February. 23, Saylor, whose company owns in excess of 70,000 BTC, continued his public Bitcoin advocacy, calling it "the dominant digital monetary network."

Saylor: Billions will choose Bitcoin for savings

Saylor was speaking a day later on United States Treasury Secretarial assistant Janet Yellen described Bitcoin as "inefficient," comments that accompanied a price dip of over 20% from all-time highs of $58,300.

For him, still, the comments were of piddling result compared with the broader Bitcoin use case quickly encroaching into more and more people's financial lives.

"The story here that's non being told is that Bitcoin is egalitarian progressive engineering," he told CNBC'south Squawk Box segment.

"We're going to meet a solar day when seven to 8 billion people take a bar of digital gilt on their phone, and they're using information technology to store their life savings with it."

Standing, he cited Bitcoin'south 12-year race to becoming a trillion-dollar asset — ii to 4 times quicker than engineering giants such as Amazon, Google and Apple.

"So, the world needs this thing, and I think you lot can expect that we'll have a billion people storing their value — in essence, a savings account — on a mobile device within five years, and they're going to want to use something like Bitcoin," he added.

"Bitcoin is the dominant digital budgetary network."

Analyst: Tesla will "double downwards" on BTC holdings

Saylor continues to make waves with MicroStrategy's ongoing Bitcoin buys, the latest of which involved raising $900 million solely to add to its existing holdings.

While skeptics claim that few others will follow in the visitor's footsteps, some other CNBC guest on Tuesday forecast that Tesla, which itself bought $1.five billion in BTC, volition "double downwards" on its exposure.

 "I retrieve this is not but a fad. I think Tesla's going to go on to double downward on its Bitcoin investment and yous'll come across information technology from a transaction perspective besides," said Dan Ives, managing director and senior equity enquiry annotator at Wedbush Securities.

BTC/USD one-hour candle chart (Bitstamp). Source: Tradingview

BTC/USD saw a welcome reprieve on Tuesday as lows of $45,000 reversed up on news that U.S. lawmakers had reached a settlement with stablecoin issuer Tether, ending a two-year lawsuit.

At the fourth dimension of writing, the pair traded above $48,000, with $50,000 appearing to deed every bit current resistance.

"Every bit expected, 'they' protected the 44k level. I think $BTC will go up or sideways as there's no more Tether FUD," Ki Young Ju, CEO of on-chain analytics service CryptoQuant, added about whales decision-making the extent of further losses.