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Michael Saylor, founder of MicroStrategy, is planning a lavish New Year’s Eve Bitcoin party at his Miami mansion, potentially celebrating a Bitcoin price surge to $100K. Meanwhile, various cities are hosting holiday events for the crypto community, including a Bitcoin giveaway in Atlanta and a festive gathering in San Francisco, while The Sandbox will host a virtual New Year’s Eve party in the metaverse.
Michael Saylor, co-founder of MicroStrategy, expresses optimism about the US under the leadership of newly appointed "crypto czar" David Sacks, who is expected to drive significant advancements in digital assets and financial innovation. Senator Cynthia Lummis also anticipates 2025 as a pivotal year for Bitcoin and digital assets, highlighting the potential for comprehensive legislation and a US strategic Bitcoin Reserve. Ripple CEO Brad Garlinghouse commends Sacks for his understanding of technology and his capability to support the White House's cryptocurrency and AI initiatives.
MicroStrategy has significantly increased its Bitcoin holdings to over 439,000 BTC, valued at approximately $46 billion, despite concerns about its financial stability. CEO Ki Young Ju warns that a drop in Bitcoin to $16,500 could trigger bankruptcy, although this scenario is deemed highly unlikely given the current price floor of $30,000. The firm continues to purchase Bitcoin, recently joining the Nasdaq 100, which may enhance its capital access for further acquisitions.
CoinShares CEO Jean-Marie Mognetti expressed optimism about Bitcoin ETFs and other cryptocurrencies like Ethereum under President-elect Donald Trump, noting significant inflows into U.S. Bitcoin ETFs. He anticipates a positive regulatory environment that could enhance investment demand for digital assets. Mognetti's views align with Michael Saylor's call for a U.S. strategic Bitcoin reserve, highlighting a potential shift in U.S. policy towards cryptocurrencies.
MicroStrategy has increased its Bitcoin holdings to 439,000 BTC, valued at approximately $46 billion, following a recent purchase of 15,350 BTC. Executive Chairman Michael Saylor likened the company's aggressive Bitcoin strategy to investing in Manhattan real estate, emphasizing a commitment to continuous buying. Despite facing stock volatility and concerns over valuation, Saylor maintains that every day is a "good day to buy Bitcoin."
Global Bitcoin adoption is surging, with institutions and governments driving demand, potentially pushing its price to $850,000 by 2025. The limited supply of 21 million coins, coupled with significant institutional stockpiling and interest from governments as a hedge against fiat instability, is creating a supply shock. As Bitcoin's role as a digital reserve currency solidifies, retail investors face urgency to act, with current prices around $106,739.74.
Thailand is exploring the possibility of adopting Bitcoin as legal tender, a move that could enhance financial inclusion and attract foreign investments. While the potential benefits are significant, challenges such as regulatory hurdles and Bitcoin's volatility pose risks to economic stability. The outcome of this initiative may influence global cryptocurrency adoption and regulation.
The FASB's new accounting rule mandates that companies value cryptocurrencies like Bitcoin at fair market value, effective December 15, 2024. This shift enhances financial transparency and simplifies reporting, potentially increasing corporate adoption of digital assets. Firms can now report Bitcoin-related revenues alongside costs, fostering a more coherent relationship between accounting practices and market realities.
Microstrategy has purchased an additional 15,350 BTC for approximately $1.5 billion, raising its total holdings to 439,000 BTC. This latest acquisition, made between December 9 and 15, reflects the firm's aggressive buying strategy during the current Bitcoin bull run, with total investments now at $27.1 billion and profits exceeding 72%. As Bitcoin reaches a new all-time high above $106,000, trading activity remains robust, particularly between the $96,000 and $100,000 price levels.
MicroStrategy has intensified its Bitcoin acquisition strategy, purchasing an additional 15,350 BTC for approximately $1.5 billion, bringing its total holdings to 439,000 BTC. This move follows a bullish market trend, with Bitcoin recently surpassing $106,000 and yielding significant returns for the firm. The company's stock, MSTR, rose over 3% after being announced for inclusion in the Nasdaq 100, expected to attract substantial investment flows.
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