Michael Saylor Explains Why Right Now Is A 'Pretty Ideal' Time To Start Loading Up On Bitcoin: 'We 10x From Here'
Portfolio Pulse from Adam Eckert
MicroStrategy Inc (NASDAQ:MSTR) continues to increase its Bitcoin (CRYPTO: BTC) holdings, with the company now holding a total of 158,400 Bitcoins at an average cost of $29,586 per coin. The company's Executive Chair, Michael Saylor, believes that the approval of a Bitcoin ETF and the upcoming Bitcoin halving in April 2024 will drive the price of Bitcoin higher. Saylor also highlighted Bitcoin's advantages over commercial real estate, gold, and big tech investments.
November 02, 2023 | 5:47 pm
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POSITIVE IMPACT
The potential approval of a Bitcoin ETF and the upcoming Bitcoin halving could drive the price of Bitcoin higher.
The approval of a Bitcoin ETF could increase institutional awareness and adoption of Bitcoin, driving its price higher. Additionally, the upcoming Bitcoin halving, which will reduce the number of Bitcoin rewards per block mined by 50%, could also increase Bitcoin's price due to a decrease in supply.
CONFIDENCE 70
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
MicroStrategy's continued investment in Bitcoin could potentially increase the company's asset value if Bitcoin's price continues to rise.
MicroStrategy's investment strategy is heavily tied to the performance of Bitcoin. If Bitcoin's price increases due to the factors mentioned by Saylor, this could potentially increase the value of MicroStrategy's assets.
CONFIDENCE 70
IMPORTANCE 80
RELEVANCE 100