The prices of Bitcoin and cryptocurrencies have staged a late Santa rally this week with the price of bitcoin surging more than $ 50,000 per bitcoin—even as Tesla's Elon Musk and Twitter co-founder Jack Dorsey discuss the future of cryptocurrencies.
The price of bitcoin rose to levels not seen since before its crash in early December, pushing the price of ethereum up. Meanwhile, Smaller cryptocurrencies, including Ethereum and its biggest rivals, have exploded in recent weeks..
Before the rise of the cryptocurrency market before Christmas, bitcoin evangelist Michael Saylor bitcoin price prediction was revealed, as well as his personal stash of nearly $ 900 million bitcoins.
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MicroStrategy CEO Michael Saylor has been buying large volumes of bitcoins for the past year as ... [+]
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MicroStrategy CEO Michael Saylor, who transformed his business intelligence company into a bitcoin acquisition vehicle in the past 18 months, expects the price of bitcoins to eventually hit $ 6 million, according to interview details. November with the technology news site. Information published in its Crypto Global newsletter this week.
A bitcoin price of $ 6 million, which has already risen from around $ 4,000 in March 2020 to highs of almost $ 70,000 last month, would give the nearly 19 million bitcoins in circulation a combined value of $ 126 trillion, an increase of about 12,000% from its current close to - $ 1 trillion market capitalization and makes it by far the most valuable product in the world.
Saylor also said that he personally owns 17,732 bitcoins, worth around $ 832 million at current prices, and has never sold any; however, he does not own any other cryptocurrency besides bitcoin. even though many rose at a much faster rate than bitcoin over the last year.
"I don't think you should sell your bitcoins," Saylor said. Information.
MicroStrategy, after starting acquiring bitcoins in August 2020, has now purchased just over 122,000 bitcoins which are now worth nearly $ 6 billion and are increasingly being run as two separate businesses.
"Right now, the strategy is for us to run the software business as hard as we can," Saylor said. "On the other hand, we acquire and hold bitcoins."
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The price of bitcoin has skyrocketed this week, skyrocketing to over $ 50,000 per bitcoin for the first time since ... [+]
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MicroStrategy's first bitcoin purchase for $ 250 million is now worth around $ 1 billion and has made a series of highly successful bitcoin purchases since then, financed through company debt. His latest bitcoin purchase for $ 82 million was made earlier this month.
The company's share price has skyrocketed since August 2020, adding 300%, but has swung wildly alongside the highly volatile bitcoin price.
Saylor, who is famous for losing $ 6 billion in a single day during the height of the dot-com bubble, has become known for his flamboyant and flamboyant bitcoin quotes.
"Bitcoin is a swarm of cyber hornets serving the goddess of wisdom, feeding on the fire of truth, growing exponentially smarter, faster and stronger behind a wall of encrypted energy," Saylor tweeted in September 2020.
Bitcoin's huge rally over the past year has helped it get taken more seriously on Wall Street and by established tech giants. Bitcoin has swept Wall Street this year, with many of the largest banks starting to roll out crypto services and building up in the crypto markets.
This week, the former Twitter
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