bullish

Bitcoin

Apple

<p>The cryptocurrency market is buzzing with excitement following Donald Trump’s win, with Bitcoin soaring to new heights. Currently<a href="https://coinpedia.org/news/crypto-news-today-nov-20th-2024-bitcoin-hits-new-ath-above-94k-bonk-memecoin-tops-gainers/"> trading at </a>$92,460, Bitcoin is edging closer to a $2 trillion market cap, while XRP has experienced a remarkable 50% rally, breaking past its <a href="https://coinpedia.org/news/xrp-trend-hits-yearly-high-of-1-why-has-xrp-gone-up/" target="_blank" rel="noreferrer noopener">long-held $1 barrier. </a></p>   
<p>But there’s more to the story—while these surges grab attention, Michael Saylor, the chairman of MicroStrategy and a prominent Bitcoin advocate, has rebuffed the claims that he will not recommend assets like XRP to clients.&nbsp;Read on to find out. </p>   
<h2 class="wp-block-heading" id="h-saylor-sticks-to-bitcoin">Saylor Sticks to Bitcoin</h2>   
<p>In a recent appearance on the <em>PBD Podcast</em>, Saylor made it clear that he remains fully focused on Bitcoin, viewing it as the ultimate long-term investment. Although XRP has rallied, he expressed caution about assets that carry counterparty risks, including cryptocurrencies like XRP and even well-established stocks like Apple. </p>   
<p>For Saylor, Bitcoin remains the best option in a volatile market.</p>   
<h2 class="wp-block-heading" id="h-xrp-over-bitcoin-no-chance-says-saylor"><strong>XRP Over Bitcoin, No Chance Says Saylor!</strong></h2>   
<p>MicroStrategy’s stock has skyrocketed by 2,735% over the past five years, largely due to its decision to invest in Bitcoin. This move has made MicroStrategy a leader in corporate Bitcoin holdings, with over 330,000 BTC, worth $30 billion, in its reserves. Saylor credits this strategy for helping the company outperform the broader market and continues to urge other businesses to adopt a similar approach.</p>   
<p>Saylor also pointed out that major tech companies like Microsoft, Apple, and Google have missed the opportunity to invest in Bitcoin. Despite having $78 billion in cash reserves and backing projects like Skype and OpenAI, Microsoft hasn’t invested in Bitcoin or similar assets. Saylor believes that Bitcoin offers a far better alternative to holding cash, suggesting that if Apple invested $100 billion in Bitcoin, it could grow to $500 billion, helping the company achieve 20% annual growth.</p>   
<p><strong>The Rising Role of Stablecoins</strong></p>   
<p>Although Bitcoin is his main focus, Saylor also sees growing potential in stablecoins, such as USDT and USDC. He acknowledged their importance in regions facing economic instability, like Venezuela and Cuba, where they can help people cope with inflation and political challenges. </p>   
<p>However, he stressed the need for clear regulatory guidelines in the U.S. to allow stablecoins to grow significantly, with potential to expand from $150 billion to $10 trillion in the future.</p>   [post_titles_links postid="382387"]   
<h2 class="wp-block-heading" id="h-what-this-means-for-xrp-s-price"><strong>What This Means for XRP’s Price</strong></h2>   
<p>Despite some negative sentiment around XRP, on-chain data shows an increasing demand for the token. Significant withdrawals have been observed from major exchanges, including 250 million XRP tokens removed from Upbit in just one week. This drop has brought Upbit’s reserves to a four-month low of 6.3 billion tokens, according to CryptoQuant. Similarly, Binance has seen a steady decline in XRP reserves since November 12.</p>   
<p>This drop in exchange reserves indicates increased buying pressure, as investors transfer XRP to private wallets, often signifying long-term holding strategies. With reduced supply on exchanges, <a href="http://250 million XRP tokens were withdrawn from Upbit" target="_blank" rel="noreferrer noopener">XRP’s price</a> may see upward momentum, pointing to a potentially bullish trend ahead.</p>   
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio">
 <div class="wp-block-embed__wrapper">
   https://www.youtube.com/watch?t=4010&amp;v=T34AYoCUA4w&amp;feature=youtu.be 
 </div>
</figure>

Michael Saylor on Why XRP Isn’t Part of His Investment Strategy

Table of Contents

CoinPedia News

Other articles published on Nov 20, 2024

BlackRock IBIT Options Debut with $1.6B Trading Volume on Nasdaq

First Digital’s FDUSD Stablecoin is Officially Live on Sui

OpenSea Unveils Major Upgrade to NFT Marketplace, Set to Launch in December

Why Is Bitcoin Surging? Key Levels and New Price Targets

MAGA-Themed FreeDum Fighters Presale Raises $600K Ahead of Trump’s Second Term – Next Big PolitiF...

Ki Young Ju Highlights Bitcoin’s Euphoria as Market Thrives

Join our free newsletter for daily crypto updates!