MicroStrategy co-founder and Executive Chairman Michael Saylor has expressed his enthusiasm for Bitcoin, telling CNBC that he believes the cryptocurrency is soon going to experience a price boost previously unheard of in modern financial history. This confidence is driven by a number of Bitcoin-related events occurring in the near future, such as the upcoming “halving” event which will reduce Bitcoin mining rewards by 50%, and the potential approval of the first spot Bitcoin ETF which could happen as soon as Christmas. This could potentially increase demand for Bitcoin while reducing supply, leading to an increase in its price. Saylor also believes that major financial institutions expanding their investment in Bitcoin will stabilize the cryptocurrency and crypto industry as a whole, further boosting Bitcoin’s price. Bitcoin has been rising steadily, peaking at a 2023 record of $35,878. Investment research firm Bernstein has predicted that, with a spot Bitcoin ETF approval, the cryptocurrency could hit $150,000 by 2025. #Bitcoin #Cryptocurrency #Halving #ETF #MichaelSaylor
You can read more about this topic here: Decrypt: Michael Saylor: ‘Unprecedented’ Demand Is Set to 10X Bitcoin
