The Biggest Bull In Bitcoin Made A Wild $6 Million Price Prediction as Ethereum Rivals Make Huge Gains

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.

Ahead of the crypto market surge ahead of Christmas, bitcoin evangelist Michael Saylor’s huge bitcoin price prediction was revealed, as well as his personal bitcoin stash of nearly $ 900 million.

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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 finally hit $ 6 million, according to interview details. November with 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, it does not own any other cryptocurrency besides bitcoin even though many have risen 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 that 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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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 heyday 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, and many of the largest banks have started rolling out crypto services and amassing in the crypto markets.

This week, the former Twitter
TWTR
CEO Jack Dorsey, who recently resigned from the social media giant he co-founded to grow his payments company, predicted that Bitcoin will eventually replace the US dollar.

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