Michael Saylor Declares Bitcoin is "Going Ballistic" as BTC Stays Above $90,000
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In a recent tweet, Michael Saylor, the CEO of MicroStrategy, rallied his 3.6 million followers on X (formerly Twitter) to continue holding and purchasing Bitcoin, the leading cryptocurrency. Saylor's enthusiasm comes amidst a slight downturn in Bitcoin's price, which has seen a 3% decline today, dropping from its previous high of over $90,000 to around $89,140.
Saylor tweeted, "Bitcoin is going ballistic," alongside an AI-generated image of himself as an astronaut on a space station, reflecting his optimistic outlook on the cryptocurrency's future. He also hinted at a forthcoming “$100,000 Bitcoin party,” signaling his belief that Bitcoin will soon surpass the $100,000 mark.
Matthew Sigel, head of digital assets at VanEck, echoed Saylor's sentiments during a recent appearance on CNBC’s Squawk Box. Sigel suggested that the current Bitcoin rally is just beginning, rather than slowing down. He noted that there is no significant technical resistance preventing Bitcoin from climbing higher, and he predicts that the cryptocurrency could break through its all-time highs in the next two quarters, similar to the patterns observed in 2020.
Sigel pointed out that Bitcoin has already increased by 30% since the recent shift in US political leadership, and he anticipates a target price of $180,000 for Bitcoin next year. He highlighted that several indicators are still signaling a continuation of this bullish trend. Furthermore, he mentioned the US government's potential pro-crypto pivot, which may include the establishment of a Strategic Bitcoin Reserve and a possible change in leadership at the SEC, which has been perceived as a hindrance to crypto companies in the US.
As the landscape for cryptocurrencies evolves, Sigel noted that many crypto companies are planning to return to the US, which could lead to job creation and positively impact the economy. This optimism surrounding Bitcoin and the broader crypto market reflects a growing belief in the potential for significant gains in the near future.