MicroStrategy CEO Michael Saylor has stated that bitcoin is bullish in 2024. This announcement comes ahead of key events scheduled for this year that have the potential to drive the price of btc to greater heights.
The year of bitcoin
Former CEO and co-founder of MicroStrategy, bitcoin/michael-saylor-bitcoin-1-million/” rel=”nofollow noopener” target=”_blank”>Michael Taylor has recently led to x (formerly Twitter) to proclaim that 2024 is the year of btc. “Welcome to 2024, the year of bitcoin,” said Saylor.
The bold statement comes in the wake of approaching deadline for the US Securities and Exchange Commission's (SEC) final decision on approval or denial of spot bitcoin exchange-traded funds (ETFs).
Currently, approximately 13 applications bitcoin spot ETFs have been introduced by well-known asset management companies. Despite this optimistic outlook for spot ETFs, the The US SEC has been delayed all requests, citing investor safety and possible market manipulation as part of the reasons for the postponement. As a result, the regulatory agency was ordered to make its final judgment on Spot btc ETFs by January 10.
Additionally, several industry experts have predicted that the SEC would approve Spot btc ETFs in January. The most prominent voices are Bloomberg analysts, James Seyffart and Eric Balchunas, who have predicted a bitcoin-news/bitcoin-eyes-new-highs-as-bloomberg-analyst-reiterates-90-chance-of-january-etf-approval/” rel=”nofollow noopener” target=”_blank”>90% probability from the SEC authorizing all bitcoin spot ETF applications.
This perspective has sparked debates among industry analysts about the bitcoin-news/coinshares-predicts-141000-bitcoin-price-forecasts-14-4-billion-inflows-from-etfs/” rel=”nofollow noopener” target=”_blank”>potential increase in btc price once bitcoin Spot ETFs are approved. Added to the anticipation is the next Halving bitcoin scheduled for April 2024, which is considered a major event that could skyrocket the price of btc this year.
bitcoin-news/microstrategy-bitcoin-strategy-spot-etfs/” rel=”nofollow noopener” target=”_blank”>Saylor's The optimistic outlook for bitcoin in 2024 is reinforced by MicroStrategy's recent massive btc accumulation. In bitcoin/microstrategy-615-million-on-bitcoin/” rel=”nofollow noopener” target=”_blank”>December 27In January 2023, the company purchased approximately 14,620 btc valued at $615 million. This recent btc purchase represents a tiny fraction of the company's total btc holdings.
Since your last purchase, bitcoin-news/microstrategys-bitcoin-portfolio-soars-past-5-billion-as-btc-holds-firm-at-34000/” rel=”nofollow noopener” target=”_blank”>MicroStrategy owns a total of 189,150 btc worth $5.90 billion with an average price of $31,168. The asset management company appears to be making serious investment preparations to secure a leading role in the btc bull run planned for 2024.
<img decoding="async" class="aligncenter size-medium" src="https://technicalterrence.com/wp-content/uploads/2024/01/Michael-Saylor-Says-39The-Year-of-Bitcoin39-Has-Arrived-Here39s" alt="Tradingview.com bitcoin Price Chart” width=”3266″ height=”1530″/>
btc price crosses $45,000 for the first time in over a year | Source: BTCUSD on Tradingview.com
btc Starts 2024 exceeding $45,000
In an exciting start to the new year, btc has surpassed the $45,000 price mark, setting the tone for what bitcoin enthusiasts and investors like Michael Saylor hope will be a prosperous year for the leading cryptocurrency.
At the time of writing, bitcoin is trading at $45,008.98 after giving up some of its gains, as reported by CoinMarketCap. The cryptocurrency saw an increase of approximately 6% earlier in the day, taking its price to a 21-month high of over $45,300.
Other cryptocurrencies like eth/ethereum-bulls-sight-high-2024/” rel=”nofollow noopener” target=”_blank”>ethereum and solarium also traded higher following the rise of btc. ethereum is currently trading at around $2,389.47 and Solana's current price is $114.36.
Featured image by Investors King, chart from Tradingview.com
