Bitcoin
1 Top Cryptocurrency to Buy Before It Surges 12,000%, According to This CEO
There are few people who can claim to be bigger fans of Bitcoin (CRYPTO: BTC) than Michael Saylor. The CEO of Microstrategy (NASDAQ:MSTR) has become what could only be described as a Bitcoin evangelist.
Over the past four years, his company has embarked on a strategy of replacing all of its available cash with Bitcoin and, in some cases, even going into debt to buy more Bitcoin. Today, MicroStrategy owns about 1% of the total Bitcoin supply.
To some, it may seem absurd to do such a thing, but if all goes according to plan, Saylor’s decision to follow the Bitcoin strategy could make him and his company billions – especially if Bitcoin reaches its recent prediction of $8 million per coin, a value of 12,000. % increase from its current price. See how and why Saylor believes the global cryptocurrency can maintain its historic momentum.
Image source: Getty Images.
Saylor takes his shot
Over the weekend, the city of Prague hosted Europe’s largest Bitcoin conference and one of the keynote speakers was none other than Michael Saylor. Titled “21 Rules of HODLing,” Saylor’s speech elaborated on the do’s and don’ts of investing in Bitcoin, some of the lessons he learned, and, of course, a little speculation.
He touched on several points, but the most convincing highlighted the simplicity and role of Bitcoin (and why he thinks the cryptocurrency has what it takes to reach $8 million per coin).
In their eyes, Bitcoin is the main safe haven asset. Its decentralized and virtually impenetrable network makes Bitcoin immune to the manipulation that has become so prevalent in today’s financial system.
In other words, not only can holders have confidence that their hard-earned money saved in Bitcoin will be available when they need it, but it will likely be worth more over time. This is because only 21 million Bitcoins will be created and the rate at which these Bitcoins enter the market is decreasing thanks to the reduce by half.
Although terms like “proof of work” and “decentralized networks” may sound like a foreign language to some investors, Saylor elaborated that while the inner workings of Bitcoin may be abstract, at its core, Bitcoin is simple, reliable and constant – something that the economic and financial landscape existing cannot claim.
In today’s world, economies and markets are pushed, pulled and manipulated by the regulators and agencies that oversee them, Saylor said. He believes this inevitably ends up hurting those who are forced to play this unfair game, prone to inflation, ever-increasing debt and ever-changing policies.
The story continues
But with Bitcoin, there is a way out. Holders can rest assured that there will only be 21 million coins in existence, that reductions will occur approximately every four years, and that nothing will change no matter who the chairman, president or director of some agency is. And Saylor believes the world is beginning to recognize this paradigm shift.
As more people recognize that the existing financial system is like a leaky ship that does not serve the interests of the common person, Bitcoin will benefit as it is the antithesis of fiat currencies and the ultimate cryptocurrency.
Zooming out a little
While Saylor believes there are other factors and catalysts that will influence Bitcoin’s growth (i.e. increased interest from institutional investors, financial censorship, and geopolitical instability), it is the cryptocurrency’s resilience and simplicity that will make it the leader of all assets. which is why it’s on track to hit $8 million per coin.
While he didn’t specify a timeline, the CEO probably doesn’t care. As he said in an interview with Fox News a few months ago: “I will buy at the top forever.” This sums up his belief that Bitcoin’s unique qualities will position it for eternal price appreciation as the destruction of the existing financial system continues.
Some things to keep in mind
Saylor’s projection is neither new nor special. Since Bitcoin’s launch in 2009, there have been thousands of predictions about how high the cryptocurrency will go. And while it’s unknown whether Bitcoin has what it takes to reach $8 million per coin, two things are certain. First, Bitcoin has defied almost all expectations over its decade and a half lifespan. And two, Bitcoin is still early in its adoption curve.
Although it has come a long way and has millions of users around the world, it is on track to be as transformative as the Internet and will likely one day reach a similar number of users. Rest assured, even though Bitcoin may not reach Saylor’s optimistic projection, what is certain is that demand for its 21 million coins will come under increasing pressure in the coming years.
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1 Top Cryptocurrency to Buy Before It Surges 12,000%, According to This CEO was originally published by The Motley Fool
Bitcoin
Big Tech Outperforms Bitcoin (BTC) as Trump Deal Weakens Token
Bitcoin has lost out on an asset rally fueled by positive comments from the Federal Reserve, while a tight US election race casts doubt on whether Donald Trump will get the chance to implement his pro-crypto agenda.
The digital asset fell 2.4% on Wednesday, following a Fed-fueled surge in an index of megacap tech stocks Magnificent Seven by one of the largest margins in 2024. The token retreated further on Thursday, changing hands at $63,750 as of 6:10 a.m. in London.
Bitcoin
‘This is huge’ — Billionaire Mark Cuban issues ‘incredible’ Bitcoin and crypto prediction amid price slump
Bitcoin
Bitcoin
came back with a vengeance this year when former President Donald Trump Cryptocurrency boosts US presidential election in November with ‘revolutionary’ plan.
The price of bitcoin has surged to more than its all-time high in recent months, surpassing $70,000 per bitcoin and triggering a wave of mega-optimistic predictions about the price of bitcointhough it fell again this week, falling below $65,000 after the Federal Reserve kept interest rates steady.
Now, as Elon Musk suddenly breaks his silence on bitcoin and cryptocurrenciesBillionaire investor Mark Cuban called a California plan to digitize 42 million car titles using blockchain an “incredible step forward” and “huge” for cryptocurrencies.
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Mark Cuban, famous Shark Tank investor and billionaire owner of the NBA team Dallas Mavericks, has… [+] called a cryptocurrency update “amazing” amid bitcoin’s price slump.
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The California Department of Motor Vehicles (DMV) has digitized 42 million car titles using blockchain, it was reported by Reuters, through technology company Oxhead Alpha on the Avalanche blockchain and designed to detect fraud and facilitate the securities transfer process.
“This is an incredible development for crypto,” Cuban, best known as an investor on TV’s Shark Tank and owner of the Dallas Mavericks NBA team, posted on X, joking that U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler could sue the state as part of his hostility toward cryptocurrencies and blockchain technology.
“The reason this is huge for crypto is because people who hold the tokens will have an app with an Avalanche wallet,” Cuban said. “Tens of millions of Californians having and using a crypto wallet in the next five years, or however long it takes, normalizes the use of wallets and crypto.”
John Wu, president of Avalanche developer Ava Labs, told Reuters that California’s DMV is “creating a wallet that you can download on your phone.”
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Bitcoin’s price has rallied this year, triggering a wave of bullish bitcoin price predictions from… [+] people like billionaire Mark Cuban.
Forbes Digital Assets
Last month, Cuban predicted that if the US dollar falls as the global reserve currency, bitcoin could become “a global ‘safe haven’” and a “global currency.” potentially sending the price of bitcoin to a much higher level.
According to Cuban, bitcoin could become what its most ardent supporters “envision” — a means “of protecting our economies… This is already happening in countries facing hyperinflation.”
The price of bitcoin has skyrocketed over the past year, largely due to the world’s largest asset manager, BlackRock, leading a bitcoin attack on Wall Street.
Bitcoin
Bitcoin (BTC) miner Riot Platforms (RIOT)’s second-quarter loss widens to $84.4 million as costs rise
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Bitcoin
Why Trump Wants the US Government to Have a “National Stockpile” of Bitcoin
At a national bitcoin conference in Nashville, Donald Trump finally laid out some of his crypto policy proposals, including a long-awaited part of his plan — building a strategic bitcoin reserve. CNN’s Jon Sarlin explains what it is and why the crypto industry wants it.
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