Michael Saylor, founder and executive chairman of MicroStrategy behemoth, has published a “special” tweet about Bitcoin. This coincided with the world’s flagship cryptocurrency plummeting below the $67,000 price level.
In his tweet, MicroStrategy’s Saylor suggested that users should begin to “spread Bitcoin with love.”
Spread #Bitcoin with Love 🧡 pic.twitter.com/4OVpladoCh
— Michael Saylor⚡️ (@saylor) October 22, 2024
Michael Saylor is a vocal Bitcoin evangelist. His long-running company, MicroStrategy, began to regularly buy BTC in August 2020, developing a new strategy based on Bitcoin. Currently, it holds 252,220 Bitcoins evaluated at approximately $9.91 billion.
Over the weekend, Saylor took part in a podcast, where he made several Bitcoin statements, some of which triggered the Bitcoin community. He also said that if another company decides to follow their playbook and start buying BTC, having a capitalization of only one billion, it would never be able to catch up with MicroStrategy, which can put up exponential growth with its BTC holdings.
Bitcoin to run to $300K-$500K, top analyst says
Cryptocurrency analyst Michael Van de Poppe has shared a Bitcoin chart by CryptoQuant, which shows Bitcoin whale activity versus the BTC price over the last few days. Poppe pointed out that in a zoomed out perspective, the world’s largest crypto is ranging around its recent all-time highs.
While this is happening, crypto whales are increasing their activity, and they have been buying more BTC. This is a “great sign” for Bitcoin, he believes, but “a terrible sign for the global economy.” The analyst expects that Bitcoin can run as high as $500,000 or even $600,000 per coin in the future.
Even though #Bitcoin is ranging around the ATH’s, the activity on whales is increasing and they are buying more.
In essence: that’s a great sign for #Bitcoin, but a terrible sign for the global economy.
What can we expect?
– I think we’ll see #Bitcoin run to $300-500K. pic.twitter.com/JKuRh1khpr— Michaël van de Poppe (@CryptoMichNL) October 21, 2024
In the meantime, Bitcoiner and venture investor Anthony Pompliano shared that the size of the U.S. national debt has increased to a staggering $35,770,000,000,000. In another tweet, he added that the first $12 trillion of this debt appeared after 221 years of U.S. history. Over just the last five years, another $12 trillion were added to it, leading the debt to the huge present figure.
The fast-growing national debt is cited by many prominent Bitcoin supporters as another reason that ensures Bitcoin will soar well above the $100,000 level in the future. Many of them name the $1 million target that they expect to reach before 2030 arrives. At the time of this writing, Bitcoin is changing hands at $66,923.