According to U.Today, Michael Saylor, cofounder of MicroStrategy and a well-known Bitcoin advocate, has been actively tweeting about Bitcoin as the digital currency recently reached the significant $71,000 price level. In one of his tweets, Saylor shared an AI-generated image of a bee in a beehive with a Bitcoin mascot, inviting people to 'Join the Swarm', referring to the rapidly expanding global community of Bitcoin supporters and holders. In another tweet, Saylor predicted that the future of money will be digital, ending the tweet with a Bitcoin hashtag.
Bitcoin's price surged above $71,240 and then recovered it after a slight rebound. This increase is being attributed to market participants' anticipation of potential interest rate cuts by the U.S. Federal Reserve as early as November. From Tuesday to today, the Bitcoin price increase was 3.71%. The decline since then has been almost 0.9%, with Bitcoin trading at $70,680. On Tuesday, spot Bitcoin ETFs saw significant inflows, absorbing $887 million in BTC. BlackRock’s IBIT collected $274 million, while Ark Invest increased its BTC holdings by $139 million. This was the second largest daily inflow since the Bitcoin ETF approval by the SEC in mid-January.
In related news, Max Keiser, a major Bitcoin supporter, recently tweeted his prediction about the future Bitcoin price surge. He expects Bitcoin to surpass gold in terms of market capitalization value at least 2x, possibly even 3x. This prediction was based on a statement by VanEck CEO Jan van Eck during his conversation with crypto trader and podcaster Scott Melker. Van Eck believes that Bitcoin's market cap will be worth at least half of gold’s market capitalization. Currently, gold’s market cap is approximately $15.9 trillion, and Bitcoin’s market cap is around $1.4 trillion, which is about 10x smaller.