2024

Bitcoin

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<a href="https://u.today/bitcoin-btc-all-time-high-incoming-derivative-traders-place-bold-bet">Bitcoin</a>'s potential to reach astronomical valuations has been a topic of discussion among crypto enthusiasts. One of the most noteworthy predictions comes from Michael Saylor, Chairman of MicroStrategy, who has been a vocal advocate of Bitcoin. According to Bitcoin analyst Luke Broyles, Saylor's recent speech at the <a href="https://x.com/BTCPrague/status/1801565948006011363">BTC Prague </a>event offered some eye-opening insights into his long-term vision for Bitcoin.
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 “Everybody gets bitcoin at the price they deserve!” <a href="https://twitter.com/saylor?ref_src=twsrc%5Etfw">@saylor</a> on the <a href="https://twitter.com/hashtag/BTCPrague?src=hash&amp;ref_src=twsrc%5Etfw">#BTCPrague</a> Main Stage in one of his 21 Rules of <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> Subscribe to our YT channel to get the full keynote soon! <a href="https://t.co/2deKKAvG5Q">pic.twitter.com/2deKKAvG5Q</a>— BTC Prague (@BTCPrague) <a href="https://twitter.com/BTCPrague/status/1801565948006011363?ref_src=twsrc%5Etfw">June 14, 2024</a>
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In his speech, Saylor reflected on his journey with Bitcoin, admitting that he initially dismissed the digital asset when it was priced at just $892. This skepticism led him to buy Bitcoin later at a much higher price of $9,500.
One of the standout quotes from Saylor's speech, as highlighted by <a href="https://x.com/luke_broyles/status/1801558904800674242">Luke Broyles</a>, was, "Everyone gets Bitcoin at the price they deserve."
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 8) Everyone gets <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> at the price they deserve.Michael reflected on how he dismissed <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> at $892 to only deserve buying it at $9,500.He then said when <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> is $950,000 people will try to wait for it to crash to $700,000... Then <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> would go to $8,000,000. <a href="https://t.co/Nck76lT8tI">pic.twitter.com/Nck76lT8tI</a>— Luke Broyles (@luke_broyles) <a href="https://twitter.com/luke_broyles/status/1801558904800674242?ref_src=twsrc%5Etfw">June 14, 2024</a>
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Saylor made a bold prediction: when Bitcoin reaches $950,000, many will still wait for it to drop to $700,000 before buying in. However, he implied that such hesitation could result in missing out yet again, as Bitcoin might then skyrocket to $8,000,000. This prediction highlights Saylor's belief in Bitcoin's long-term value proposition and its potential to appreciate significantly over time.
The idea of Bitcoin reaching $8 million may seem far-fetched to some, but it aligns with Saylor's broader perspective on the asset. He views Bitcoin as a superior store of value and a hedge against inflation, with the potential to attract significant capital from traditional assets.
This view has placed MicroStrategy at the forefront of Bitcoin's evolution, now owning 1.1% of the total supply of the world's largest cryptocurrency, valued at around $14.5 billion, in just four years.
The corporation recently announced a $500 million debt sale of convertible notes to increase its Bitcoin holdings. MicroStrategy's long-term convertible debt strategy ensures that it has enough time to benefit from a potential Bitcoin upside while minimizing the cryptocurrency's liquidation risk on its balance sheet.
At the time of writing, Bitcoin was down 1.07% in the last 24 hours to $66,982.

Michael Saylor's Epic Bitcoin Prediction: $8 Million Target Decoded

U_Today

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