2024

bullish

Prime

Bitcoin

<ul>
 <li aria-level="1">Thailand explores using stablecoins backed by government bonds to inject liquidity without expanding the fiat money supply.</li>
</ul>
<ul>
 <li aria-level="1">MicroStrategy, led by Michael Saylor, joins Nasdaq 100 after significant growth fueled by its aggressive Bitcoin investment strategy.</li>
 <li aria-level="1">Thailand’s potential new economic model using cryptocurrency could set a global precedent for financial innovation and growth.</li>
</ul>
Thailand is emerging as a focal point for potential economic transformations related to Bitcoin, catalyzed by comments from its former Prime Minister Thaksin Shinawatra.&nbsp;
Known for his forward-thinking economic policies, Shinawatra has recently projected an optimistic future for Bitcoin, suggesting it could soar to $850,000. 
These remarks were disseminated by Chinese cryptocurrency journalist Colin Wu, highlighting a broader sentiment about Bitcoin’s potential amidst global financial shifts.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 Thaksin Shinawatra, the former prime minister of Thailand and the father of the current prime minister, said on the 13th that his friends believe that Bitcoin will reach $850,000, and the Thai people should learn and stay informed, which will undoubtedly be reflected in… <a href="https://t.co/UVopRoN1Bf" rel="noopener noreferrer nofollow">pic.twitter.com/UVopRoN1Bf</a>
 — Wu Blockchain (@WuBlockchain) <a href="https://twitter.com/WuBlockchain/status/1867867443487760724?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">December 14, 2024</a>
</blockquote>
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Shinawatra’s bullish stance comes at a time when global <a href="https://www.ethnews.com/former-chinese-finance-minister-zhu-guangyao-calls-for-increased-crypto-regulation/" rel="noopener noreferrer nofollow">cryptocurrency policies</a> are undergoing significant reviews, especially following recent U.S. presidential elections which could herald a shift in the U.S.’s approach to cryptocurrency.&nbsp;
Some Thai politicians are speculating that the U.S. might leverage Bitcoin to manage national debts, a strategy that if implemented, could have widespread implications for global crypto dynamics.
Further stirring the economic strategy pot, Thailand is reportedly considering an innovative approach to its monetary policy involving stablecoins.&nbsp;
The Thai government is exploring the feasibility of injecting liquidity into the economy without increasing the fiat money supply by issuing stablecoins backed by government bonds. Such a move, according to Shinawatra, could spur substantial economic growth, marrying technology with fiscal policy in ways previously uncharted by traditional economic models.
<h2 id="b-microstrategy-s-nasdaq-milestone-reflects-bitcoin-s-growing-financial-influence-b">MicroStrategy’s Nasdaq Milestone Reflects Bitcoin’s Growing Financial Influence</h2>
In related news, <a href="https://www.ethnews.com/microstrategys-bitcoin-holdings-hit-42-5-billion-as-btc-price-soars-past-100000/" rel="noopener noreferrer nofollow">MicroStrategy</a>, a business intelligence giant led by Michael Saylor, has been officially included in the Nasdaq 100. This inclusion not only underscores the company’s substantial growth but also its strategic bet on Bitcoin, which has significantly bolstered its market capitalization.&nbsp;
Since 2020, <a href="https://www.ethnews.com/how-michael-saylors-bitcoin-bet-is-making-microstrategy-a-wall-street-phenomenon/" rel="noopener noreferrer nofollow">MicroStrategy</a> has adopted an aggressive Bitcoin acquisition strategy, issuing senior convertible bonds to finance these purchases. As of December 2024, the company holds approximately 423,650 Bitcoins, valued at about $41.5 billion.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <a href="https://twitter.com/search?q=%24MSTR&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$MSTR</a> to enter Nasdaq 100<a href="https://t.co/kDtDxWTSbI" rel="noopener noreferrer nofollow">https://t.co/kDtDxWTSbI</a>
 — Michael Saylor<img src="https://s.w.org/images/core/emoji/15.0.3/72x72/26a1.png" alt="⚡" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@saylor) <a href="https://twitter.com/saylor/status/1867738582850355675?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">December 14, 2024</a>
</blockquote>
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MicroStrategy’s success and its inclusion in an index that features tech giants like Tesla, Apple, and Amazon, underscore the intertwined growth of technology and cryptocurrency sectors. 
As countries and corporations alike explore the bounds of cryptocurrency’s utility, the implications for economic policies and corporate strategies are profound, signaling a possible shift towards more widespread adoption of crypto assets in mainstream finance.

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The current price of Bitcoin (BTC) is $101,434 USD, with no significant change in the last 24 hours. Over the past week, BTC has gained 1.54%, and it has shown impressive growth of 140.04% year-to-date.&nbsp;
The cryptocurrency continues to dominate the market with a market capitalization of $2.01 trillion USD. Analysts project potential further growth, with some estimates suggesting Bitcoin could reach as high as $180,000 by 2025​.
The post <a href="https://www.ethnews.com/could-bitcoin-skyrocket-to-850000-thailands-ex-prime-minister-thinks-so/" rel="noopener noreferrer nofollow">Could Bitcoin Skyrocket to $850,000? Thailand’s Ex-Prime Minister Thinks So</a> appeared first on <a href="https://www.ethnews.com" rel="noopener noreferrer nofollow">ETHNews</a>.

Could Bitcoin Skyrocket to $850,000? Thailand’s Ex-Prime Minister Thinks So

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