As a seasoned crypto investor who has witnessed the rollercoaster ride of digital currencies since their inception, I can’t help but feel a sense of excitement and anticipation upon reading about these recent developments in Thailand. The bullish predictions from Thaksin Shinawatra and the government’s initiative to promote Bitcoin usage for payments in Phuket are certainly promising signs.
Chinese digital currency journalist and writer, Colin Wu, is sharing news on the favorable Bitcoin developments happening currently in Thailand.
Additionally, the previous finance minister of the country, Thaksin Shinawatra, has expressed a highly optimistic viewpoint regarding the future price of Bitcoin.
Bitcoin will reach $850,000, Shinawatra believes
Colin Wu posted a link to an article featuring Thaksin Shinawatra, who served as Thailand’s former prime minister and now has a son holding the same position. According to Wu’s tweet, Shinawatra expressed his friends’ belief that Bitcoin could surge to an unprecedented $850,000 in the future.
Additionally, he holds the view that increasing understanding about Bitcoin within the community is crucial. Consequently, a decree has been made to establish a test environment where Bitcoin can be utilized for transactions in Phuket.
Thaksin Shinawatra, a previous prime minister of Thailand and father of the current prime minister, stated on the 13th that his acquaintances predict Bitcoin could reach an astonishing $850,000. He advises Thai citizens to educate themselves about it, as this trend is likely to have a significant impact on…
— Wu Blockchain (@WuBlockchain) December 14, 2024
This proposal emerged following the results of the latest U.S. presidential elections, with anticipation of a shift in cryptocurrency regulations within the nation soon. Certain Thai political figures speculate that America might employ Bitcoin for settling a portion of its national debt owed to creditors.
Additionally, Thailand could embark on thorough investigation and analysis of stablecoins. The aim is to determine if it’s feasible for the economy to receive investments without the need for additional paper money by creating coins backed by government bonds. If successful, Thaksin Shinawatra anticipates significant economic expansion for the country.
Bitcoin-holding MicroStrategy enters Nasdaq 100
As a researcher, I’m excited to share that my recent findings have confirmed the initial reports about MicroStrategy, the pioneering business intelligence company co-founded by Michael Saylor, which has demonstrated remarkable growth over the past four years. Today, it was announced that this thriving entity has been integrated into the Nasdaq 100 exchange-traded fund, a prestigious portfolio consisting of the most successful non-financial companies whose stocks are traded on the Nasdaq Stock Market. This inclusion signifies MicroStrategy’s impressive stature within the financial realm.
The Nasdaq 100 index also includes such tech giants as Tesla, Apple, Meta, Amazon, Microsoft.
Due to MicroStrategy’s Bitcoin investment strategy since 2020 (a critical factor contributing to a company being listed on Nasdaq), the market capitalization of the company has experienced an increase. As of December 2024, Elon Saylor’s firm owns approximately 423,650 Bitcoins, valued at around $41.5 billion.
In the last few years, MicroStrategy has been using senior convertible bonds as a means to gather billions of U.S. dollars, which they then utilize for significant purchases of Bitcoin.
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2024-12-14 23:08