Pershing
Square
Capital
Management
founder
and
CEO
Bill
Ackman
turned
some
of
his
attention
to
Bitcoin
(BTC)
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
in
a
post
on
X.
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“Bitcoin
goes
to
infinity,
energy
prices
skyrocket,
and
the
economy
collapses,”
he
continued.
“Maybe
I
should
buy
some
Bitcoin.”
“The
problem
of
course
is
that
it
also
works
in
reverse,”
he
later
added.
Unsurprisingly,
Ackman’s
post
drew
quick
response
from
many
in
the
Bitcoin
community,
including
from
MicroStrategy
(MSTR)
founder
and
Executive
Chairman
Michael
Saylor,
who
offered
to
speak
to
Ackman
directly
on
the
subject.
“You
should
buy
some
bitcoin,
but
not
for
the
reasons
cited
above,”
said
Saylor.
“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,”
he
said
at
the
time.
