As an analyst with over two decades of experience in the financial markets, I have witnessed numerous paradigm shifts and trends that have reshaped the global economic landscape. The recent surge of Bitcoin to surpass $100,000 yet again is undeniably one such shift, and it’s fascinating to observe how this digital asset has gained traction among institutional investors.
Today, Bitcoin, the top digital currency regarding market value, surpassed the $100,000 mark it previously held.
At the moment, it’s being exchanged for approximately 100,705 dollars, having peaked at 101,177 dollars today, as per CoinGecko’s latest figures. Its market capitalization is almost touching the 2 trillion dollar mark again.
During a recent interview with Alex Thorn, head of firmwide research at Galaxy, MicroStrategy co-founder rejected the idea of selling Bitcoin.
He said that the community would go “ballistic” if he decided to sell Bitcoin. “They would never trust us ever again,” Saylor added.
After making its latest acquisitions, MicroStrategy currently owns an aggregate value of approximately $42.5 billion in Bitcoin. The average cost per Bitcoin it purchased exceeds $60,000.
Saylor expresses his disapproval towards Bitcoin trading, stating emphatically that he would refrain from investing in any hedge fund whose methods for generating profits are unclear or obscure.
If you present a hedge fund earning a billion dollars through methods I find unclear, Saylor stated he wouldn’t put a single cent into it.
Instead of saying it, This contentious businessman stated his preference for spending a billion dollars according to his own comprehension.
According to U.Today’s report, Bitcoin successfully surpassed the $100,000 mark last week following remarks by Federal Chair Jerome Powell suggesting Bitcoin could rival gold.
During the interview, Saylor said that he agreed with Powell’s recent remarks.
“You should sell your gold. Gold is gonna get demonetized,” Saylor added.
This year, institutions have consistently purchased the cryptocurrency, but its market capitalization remains significantly lower than that of gold.
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2024-12-11 20:53