As a seasoned financial analyst with over two decades of experience, I have witnessed the rise and fall of various markets and assets. The current state of Bitcoin has caught my attention, not only because of its unprecedented growth but also due to the strong conviction of some prominent figures like Michael Saylor and Peter Diamandis.
Michael Saylor, a well-known Bitcoin advocate and head of MicroStrategy company, recently got into a conversation about investing in Bitcoin. At the moment, the leading global cryptocurrency is experiencing a drop and has fallen below the $92,000 mark.
“Never too late to buy Bitcoin”
Peter H. Diamandis, founder and chair of the XPRIZE Foundation, as well as co-founder and executive chair of Singularity University, appears to be a proponent of Bitcoin. In a recent tweet, he suggested that for those who haven’t yet invested in digital gold but are interested, it is not too late to do so.
Bitcoin proponent Saylor made a supportive comment, stating: “It’s never too late to buy Bitcoin.”
It’s never too late to buy #bitcoin.
— Michael Saylor⚡️ (@saylor) November 25, 2024
In a recent episode of the Coin Stories Bitcoin podcast, Natalie Brunell and Michael Saylor discussed the future of Bitcoin, with Brunell emphasizing her belief in its continued growth by saying “The future of Bitcoin has yet to unfold,” using the stylized “B” symbol to represent the digital currency.
MicroStrategy grabs $5.4 billion in Bitcoin
On Monday, Michael Saylor’s company revealed a significant new Bitcoin acquisition: They bought 55,500 Bitcoins, which is equivalent to around $5.4 billion at roughly $97,862 per Bitcoin. This purchase marks the largest single Bitcoin buy for the company so far.
Currently, MicroStrategy owns a total of 386,700 Bitcoins, which collectively are worth approximately $21.9 billion. Prior to this, they raised $2.6 billion through convertible senior notes for the purpose of acquiring more Bitcoin. This is not the first significant Bitcoin purchase made by MicroStrategy this year; earlier in November, they created a stir in the crypto community and market by investing a staggering $4.6 billion in Bitcoin.
Back in the early part of the year, Saylor made a forecast suggesting that within the next decade, Bitcoin could potentially reach an astounding price of $13,000,000. This prediction implies that Bitcoin might challenge Gold’s dominance in the market to some extent.
Bitcoin price continues to decline
For the past 24 hours, Bitcoin has decreased by around 7%, dropping from approximately $98,600 down to $92,000. Currently, Bitcoin is being traded at $92,192. The CEO of JAN3 and a strong advocate for Bitcoin, Samson Mow, declared that “Bitcoin Black Friday” has commenced, encouraging the community to purchase Bitcoin during this price drop.
Experts suggest that the current drop in Bitcoin’s value could be due to traders taking advantage of the opportunity to cash out their gains, as the cryptocurrency had recently hit a record high very close to the $100,000 price point.
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2024-11-26 17:06