After the US presidential election, the price of Bitcoin briefly climbed to 93K. Michael Saylor, the founder of MicroStrategy, said in a recent interview that he is quite optimistic about the Bitcoin market and revealed his next $42 billion Bitcoin investment plan.
Bitcoin is ushering in a red wave, with multiple positives pushing the market bullish
Saylor said that the red wave after the presidential election (the Republican victory) has a major impact on Bitcoin and the overall encryption industry. Among them, Wall Street institutions such as BlackRock (BlackRock) have become more and more supportive of Bitcoin, which has also led to Market optimism. Saylor also announced plans in October to raise $42 billion to buy all newly mined Bitcoin over the next three years at prices above $85,000.
The regulatory environment is expected to improve, and the appointment of a new SEC chairman is highly anticipated
As the Trump administration takes office, the market is generally expecting a series of personnel changes at the top of the U.S. Securities and Exchange Commission (SEC). Current Chairman Gary Gensler may be asked to step down on Trump's first day in office. Saylor stressed that who will serve as the new SEC chairman will affect the future development of cryptocurrency ETFs, exchanges and listed companies (micro strategies, etc.).
It is further believed that the Trump administration, with the support of Congress, the White House and other parties, will introduce more "business-friendly, Bitcoin-friendly" policies and end the past regulatory war on the encryption market.
(Trump promised in Bitcoin 2024 to fire Gary Gensler and ensure that the United States becomes a Bitcoin power)
Confident in Bitcoin breaking through $100,000 and convinced that the bull market will continue
Regarding the future price trend of Bitcoin, Saylor said that he is confident that Bitcoin will break through 100,000 US dollars, and he has even planned to have a party at home to celebrate. He believes that the final results of the US election have eliminated uncertainty about the future of Bitcoin, and the market currently sees almost no short-term threats.
Support the U.S. “Bitcoin Strategic Reserve” to boost economic development
Regarding the question of whether the U.S. government should establish a "Bitcoin Strategic Reserve," Saylor supported the reserve-related bill proposed by Wyoming Senator Cynthia Lummis to "purchase 1 million Bitcoins and hold them for 20 years." Saylor believes that Bitcoin is the key to the future control of the global capital network by the United States and is a "destiny" for the United States.
It is more emphasized that Bitcoin, as a decentralized asset, has economic and technological advantages that can help the United States cope with the challenge of the US$16 trillion national debt, thereby helping the US economy. Furthermore, more and more favorable policies are being introduced one after another, which can help the encryption industry continue to develop.
(Bitcoin 89K! Micro-strategy spends another 2 billion to add BTC)
This article Micro Strategy: Raising US$42 Billion to Repurchase Bitcoin to Support the US Bitcoin Strategic Reserve first appeared on Chain News ABMedia.
