Catenaa, Tuesday, November 19, 2024-Michael Saylor, co-founder and former CEO of MicroStrategy, predicts Bitcoin will exceed $100,000 before the end of 2024, citing the cryptocurrency’s recent surge and favorable conditions following Donald Trump’s election victory.
Speaking to CNBC, Saylor said he is planning a New Year’s Eve “$100,000 party,” confident that Bitcoin’s price will continue to rise.
Bitcoin recently hit an all-time high of $93,000 before stabilizing at $89,000, bolstered by a pro-crypto sentiment spurred by Trump’s election.
Saylor sees the victory as “incredibly auspicious for Bitcoin,” noting the President-elect’s evolving stance on digital currencies.
Trump, once a critic of cryptocurrencies, has pledged to introduce regulations “written by people who love the industry,” signaling a shift towards a more crypto-friendly US policy landscape.
MicroStrategy, known for its aggressive Bitcoin acquisition strategy, currently holds $25 billion in the cryptocurrency. Saylor’s decision to invest in Bitcoin as an inflation hedge in 2020 has positioned the company as the largest institutional Bitcoin holder.
With Trump’s proposed regulatory framework and increasing institutional interest, Saylor believes Bitcoin’s rally is far from over.
“I don’t think it’s going back to $60,000 or $30,000,” Saylor remarked, adding that Bitcoin’s momentum is set to carry it to unprecedented heights.
Bitcoin enthusiasts eagerly await the anticipated surge, which Saylor says could solidify the token’s dominance in global markets.
