Bitcoin Price Prediction: Surges to $43,500, MicroStrategy’s Holdings Exceed $8B
In a striking move that underscores the growing clout of cryptocurrencies, Bitcoin has surged to an impressive $43,545, marking a 2.77 percent increase on Thursday. This notable ascent further cements its position as a dominant player in the digital currency market. In a parallel development, business intelligence firm MicroStrategy’s strategic Bitcoin acquisition has propelled its holdings to a staggering value exceeding $8 billion, highlighting the increasing institutional interest in Bitcoin.
Meanwhile, Marathon Digital, a key player in the crypto mining sector, has emerged as the most traded stock of the day, witnessing a remarkable $327 million in trading volume. These developments collectively underscore the burgeoning interest and confidence in Bitcoin as a viable and lucrative asset class in the financial market.
MicroStrategy Inc., steered by ardent Bitcoin advocate Michael Saylor, has significantly bolstered its Bitcoin assets, now valuing over $8 billion. This increase comes after the acquisition of 14,620 Bitcoins for $616 million from November 30 to December 26, elevating their total Bitcoin stash to 189,150 units, a notable 1% of the total Bitcoins in circulation. Saylor’s strategic Bitcoin investments began in 2020, positioning MicroStrategy as an indirect investment avenue for those interested in Bitcoin but hesitant about direct ownership.
Addressing concerns about the impact of a potential physically-backed Bitcoin ETF, Saylor, in a recent Bloomberg TV interview, asserted that MicroStrategy’s shares offer a leveraged Bitcoin exposure without any associated fees.
MicroStrategy increased its total holdings of Bitcoin to more than $8 billion through additional purchases this month https://t.co/sWsVWVKryW
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