Will Bitcoin Hit $150K? Saylor Predicts Microsoft Could Add $4.9T with Bitcoin, Strong Buy Signals
Bitcoin fell 1.5% in 24 hours to $95,287 while the cryptocurrency market fell 2.5% today.
After failing to reach fresh highs for a week, BTC is down 3%.
With a 37% monthly gain and 146% annual gain, the original cryptocurrency is poised to reach $100,000.
Michael Saylor's latest proposal to Microsoft suggests that the computer giant might add $4.9 trillion to its market valuation by investing aggressively in Bitcoin.
MicroStrategy's CEO gave a three-minute presentation to Microsoft shareholders on why the global software company should add Bitcoin to its balance sheet.
Saylor argued that Bitcoin is the next technical leap, offering better “capital preservation” than past repositories of wealth.
Saylor also projects that BTC’s market worth will climb from $2 trillion to $200 trillion in the next 21 years, based on recent performance.
He advised Microsoft stockholders to invest in Bitcoin, which could boost Microsoft's market worth by $4.9 trillion over 10 years.
Microsoft inviting Saylor to talk on Bitcoin is big, even if it's unlikely they would.
With a more crypto-friendly US government, Microsoft and other large firms may acquire Bitcoin.
BTC has been performing well since last month's election because of this, but a large corporation investing in it may explode it.
Its chart shows it's close to recovering from overnight's drop.
Its 30-period average (orange) is nearing the 200-period (blue) and its RSI (purple) has just reached oversold 30.
BTC, which is fighting to reach $100,000, will be better positioned to achieve regular increases.
Even yet, the currency has the medium- and long-term momentum to break through this level and achieve new highs by year's end.