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  • Bitfinex: Bitcoin could hit $200k by mid-2025 with mild price corrections

    Bitfinex: Bitcoin could hit $200k by mid-2025 with mild price corrections

    Bitcoin green
    • Bitfinex analysts believe Bitcoin could reach between $140,000 – $200,000 by mid-2025
    • “Consistent buying pressure” with ETFs will see future Bitcoin price correction “shorter in duration”
    • If Bitcoin follows the 2021 cycle, it has the potential to reach $339,000

    Bitcoin could surge to $200,000 under “favorable conditions,” according to a new report from Bitfinex analysts.

    In its Bitfinex Alpha report, published on December 16, analysts noted that Bitcoin has achieved unprecedented milestones in 2024, surpassing a $2 trillion market capitalization and reaching a new all-time high of above $100,000.

    The analysts added that Bitcoin exchange-traded funds (ETFs) have emerged as a dominant force, with US spot ETF inflows reaching $35.5 billion.

    “Looking ahead, we believe the current run-up to over $100,000 has captured a significant portion of Bitcoin’s price appreciation for this cycle,” the analysts wrote. “Our minimum price target for Bitcoin remains at $140,000 – $200,000 around mid-2025.”

    Bullish movement post-halving

    Looking to 2025, the analysts believe that any corrections will “remain mild, thanks to institutional inflows.” They also point out that as 2024 was a halving year for Bitcoin, “historically the following year post halving has been bullish.”

    “In previous cycles, once Bitcoin entered price discovery following a halving, corrections before mean reversion to new ATHs were relatively contained,” the analysts wrote. “In the 2017 cycle, the maximum correction was 33.2 percent, while the 2020 cycle saw a slightly smaller correction of 27.1 percent.”

    According to Bitfinex, Bitcoin’s current bull cycle, which started in mid-to-late 2023, the asset’s corrections have been smaller since the launch of Bitcoin ETFs in January. Analysts believe that with “consistent buying pressure,” future corrections will be “limited and potentially shorter in duration.”

    Bitcoin at $339,000?

    Bitfinex predicts Bitcoin’s price could peak at $339,000, if it follows the pattern of the 2021 cycle; however, if it follows the 2017 cycle with diminishing returns, Bitcoin could hit around $290,000 by 2026.

    At the time of publishing, Bitcoin is trading under $104,000, according to data from CoinMarketCap. Yesterday, the crypto asset reached a new all-time high of above $108,000.

    Market sentiment has surged since President-elect Donald Trump won the US election in November. Since then, Trump has appointment several pro-crypto candidates in the run up to his administration entering the White House in January.

    Earlier this month, Trump named pro-crypto Paul Atkins as the next Chair of the US Securities and Exchange Commission (SEC). He’ll take over from current Chair Gary Gensler who’s stepping down on January 20.

    Trump also has Tesla CEO Elon Musk and entrepreneur Vivek Ramaswamy leading the Department of Government Efficiency (DOGE) to “dismantle government bureaucracy.” Meanwhile, David Sacks will be the lead policy advisor on artificial intelligence and crypto.

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  • US lawmakers cancel vote to renominate SEC Commissioner Caroline Crenshaw

    US lawmakers cancel vote to renominate SEC Commissioner Caroline Crenshaw

    former sec chair bitcoin etf approval is inevitable
    • The original vote was scheduled for December 11, but was postponed by Sherrod Brown, the Senate Banking Committee Chair
    • Congress is due to stop on December 20, so it’s unlikely that Crenshaw will be renominated before President-elect Donald Trump enters the White House
    • The crypto industry has openly opposed the renomination of Crenshaw

    A US Senate vote to renominate Democrat Caroline Crenshaw for a second term at the US Securities and Exchange Commission (SEC) has been canceled.

    In an update, the US Senate Committee on Banking, Housing, and Urban Affairs said the scheduled vote on the nomination of Crenshaw to the SEC and Gordon Ito to the Financial Stability Oversight Council had been canceled.

    The original vote was scheduled for December 11; however, Sherrod Brown, the Senate Banking Committee Chair, postponed it within minutes of starting, due to issues between the Democrats and Republicans.

    At the time, Brown later released a statement saying that corporate special interests are running a “disgusting smear campaign against Caroline Crenshaw.”

    Yet, with Congress due to stop on December 20 for the holidays, it means Crenshaw is unlikely to be renominated before President-elect Donald Trump’s administration re-enters the White House in January.

    Crenshaw’s term officially ended in June.

    Opposition to Crenshaw

    The crypto industry has been openly opposed to the reappointment of Crenshaw.

    In a letter to Brown and Senate Banking Committee Ranking Member Tim Scott, the Blockchain Association and the DeFi Education Fund argued that Crenshaw’s actions have undermined Congress’s mandate to establish clear regulatory policies for the crypto industry.

    Following the news of Crenshaw’s reappointment, Brian Armstrong, CEO of Coinbase, took to X to say: “She tried to block the Bitcoin ETFs, and was worse than Gensler on some issues (which I didn’t think was possible).”

    With Crenshaw’s renomination vote canceled, the SEC could have a Republican majority leading it for the time being.

    The SEC can make up to five commissioners, but no more than three can form the same political party. Current SEC chair Gary Gensler, a Democrat, is stepping down on January 20, and SEC Commissioner Jaime Lizárraga, also a Democrat, will step down on January 17.

    Last week, Trump nominated pro-crypto Paul Atkins, a Republican, as chair of the SEC.

    Including Gensler and Lizárraga, the three remaining SEC commissioners are Republicans Hester Peirce and Mark Uyeda.

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  • Bitcoin holds above $107 despite $172m Mt. Gox BTC transfer

    Bitcoin holds above $107 despite $172m Mt. Gox BTC transfer

    • Mt. Gox moved over $172 million in BTC to new wallet addresses.
    • The price of Bitcoin held strong despite bankrupt crypto exchange’s wallet activity.

    Bankrupt crypto exchange Mt.Gox has notably transferred about 1,620 Bitcoin to new unknown addresses. The value of the Bitcoin transfer stood at over $172.5 million, and was sent to new addresses.

    The transfers happened as BTC price hovered around $107,380, having hit new all-time highs above $107,822. Unlike in the past Mt. Gox transactions of the flagship cryptocurrency, the latest movement hasn’t seen BTC react violently lower. Dormant whales have also woken up, as Arkham Intelligence pointed out in a post on X.

    Mt.Gox Bitcoin transfers

    Two weeks ago, the crypto exchange Mt. Gox made another Bitcoin transfer of 24,000 BTC to unknown wallets. According to Arkham, the bankrupt exchange transferred 1,619.6 BTC in two chunks, one of 1427.9 BTC and the other of 191.7 bitcoin to two new addresses.

    Recently, the blockchain security and intelligence platform showed that Mt. Gox’s latest wallet activity also included the transfer of 1427.9 Bitcoin to an address starting with “1DeY. It then transferred 108 BTC and 191.7 BTC through several addresses before the coins ended in the wallet that currently holds 300 Bitcoin.

    In November, Mt. Gox transfered $2.2 billion Bitcoin to unknown wallets amid repayment plans. On December 5, Mt. Gox made another Bitcoin transfer. It moved 24,000 BTC worth $2.5 billion a time when BTC was trading at $ 100,000, an all-time high at the time.

    Arkham notes the exchange has 36,085 Bitcoin holdings estimated to be worth $3.86 billion. The deadline for creditor repayment will be October 31, 2025.

    Despite downside pressure, Bitcoin has recovered from previous Mt. Gox dumps to hit new all-time highs above $100.

    The bullish market sentiment is down to multiple catalysts. It includes greater institutional demand for spot Bitcoin ETFs, US election that has a pro-crypto administration in place and the exit of SEC’s Gary Gensler. New pro-crypto picks for the SEC and CFTC will help the push for regularity clarity.

    There’s also the buying spree by MicroStrategy and several other companies, including Boyaa Interactive, Metaplanet and the miner industry led by Marathon, Riot and Semler Scientific, are hodling BTC. The companies have adopted the Bitcoin treasury strategy that has seen MicroStrategy become the world’s largest corporate holder of BTC.

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  • MicroStrategy acquires 15,350 Bitcoin, now holds 439,000 BTC valued at over $45B

    MicroStrategy acquires 15,350 Bitcoin, now holds 439,000 BTC valued at over $45B

    • MicroStrategy bought its latest Bitcoin between December 9, 2024, and December 15, 2024
    • Last week, the company purchased 21,550 Bitcoin for $2.1 billion and the week before it bought 15,400 Bitcoin for $1.4 billion
    • The Bitcoin buying spree comes as MicroStrategy will be added to the Nasdaq-100 Index on December 23

    MicroStrategy has acquired an extra 15,350 Bitcoin worth around $1.5 billion in cash, pushing its total holdings to 439,000.

    In an 8-K filing to the US Securities and Exchange Commission (SEC), MicroStrategy, a major Bitcoin holder, bought the crypto asset between December 9, 2024, and December 15, 2024, at an average price of $100,386 per Bitcoin.

    With the latest Bitcoin addition, MicroStrategy and its subsidiaries now hold 439,000 Bitcoin, valued at $45 billion. In a post on X, Michael Saylor, MicroStrategy’s CEO, said the Bitcoin was bought for $27.1 billion or an average price of $61,725 per Bitcoin.

    Saylor also noted that MicroStrategy’s year-to-date Bitcoin Yield is 72.4% while its quarter-to-date Bitcoin Yield is 46.4%.

    This is the latest purchase from MicroStrategy. Last week, the company purchased a further 21,550 Bitcoin between December 2, 2024, and December 8, 2024, for around $2.1 billion at an average price of $98,783 per Bitcoin. This followed a purchase of 15,400 Bitcoin for $1.4 billion the week before.

    Joining the Nasdaq-100 Index

    The continued push to buy more Bitcoin comes as MicroStrategy will be added to the Nasdaq-100 Index on December 23.

    In an announcement on December 13 from Nasdaq, it said three companies will be added to its Index: Palantir Technologies Inc., MicroStrategy Incorporated, and Axon Enterprise, Inc.

    Following the news, crypto analyst Will Clemente wrote on X: “Now that MSTR is getting added to the Nasdaq, every large pension fund, sovereign wealth fund, and individual retirement account in the world is going to have Bitcoin exposure.”

    The news has also rallied MicroStrategy’s stock price, pushing it up 3%, according to CNBC.

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  • Bitcoin reaches new all-time high of above $106,000

    Bitcoin reaches new all-time high of above $106,000

    Eric Trump praises Bitcoin, predicts it will hit $1M at Bitcoin MENA 2024
    • Bitcoin hit $106,400 in the early hours of December 16
    • Crypto trader believes the next three to four weeks are going to be significant for Bitcoin if history repeats
    • Investors believe Bitcoin reaching $120,000 by the end of 2024 is achievable

    Bitcoin set a new all-time high above $106,000 following news that President-elect Donald Trump is considering plans to create a US Bitcoin strategic reserve.

    In the early hours of December 16, Bitcoin topped more than $106,400, according to data from CoinMarketCap.

    Bitcoin reaches over $106,000, setting a new all-time high. Source: CoinMarketCap

    At the time of publishing, Bitcoin has retraced slightly to $104,700. Over the past year, the world’s largest crypto asset has risen nearly 148% in value. Bitcoin’s previous high was set on December 5, hitting close to $104,000.

    News of Bitcoin’s rally comes as Trump announced he’s considering creating a US Bitcoin strategic reserve similar to its oil reserve. Speaking to CNBC last week, Trump said:

    “We’re gonna do something great with crypto because we don’t want China, or anybody else … but others are embracing it, and we want to be ahead.”

    In relation to a question about whether the US will create a Bitcoin strategic reserve, Trump said: “Yes, I think so.”

    In a post on X, Ash Crypto wrote: “Bitcoin is breaking out. If history repeats, the next 3-4 weeks are going to be massive.”

    Crypto-friendly administration

    The incoming Trump administration is seen as more crypto friendly compared to Biden’s team.

    During his campaign, Trump promised to make America the “crypto capital of the planet.” Since winning the US election, his team has already made significant appointments, many of whom are crypto-friendly.

    Last week, Trump appointed Paul Atkins as the next Chair of the US Securities and Exchange Commission (SEC). He will be replacing Gary Gensler who is stepping down on January 20, 2025.

    Trump also named David Sacks as the lead policy advisor on artificial intelligence and crypto, dubbing him the “White House AI and Crypto Czar.” In November, Trump announced that Elon Musk and Vivek Ramaswamy will lead the Department of Government Efficiency (DOGE) to “dismantle government bureaucracy.”

    Speaking to the BBC, Peter McGuire from trading platform XM.com, said:

    “The Bitcoin rally since the election has been parabolic and the FOMO – or fear of missing out – rally is gathering momentum. Many investors believe $120,000 is achievable by the end of the year and then in 2025 there’s talk of greater than $150,000 by mid-year.”

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  • Gate.io to list CYBRO token on Dec 14 after $7M presale success

    Gate.io to list CYBRO token on Dec 14 after $7M presale success

    Gate.io to list CYBRO token on Dec 14
    • CYBRO token ($CYBRO) will be listed on Gate.io on December 14.
    • Gate.io is also conducting a 500,000 CYBRO token airdrop for subscribers holding at least 10GT.
    • CYBRO has earned a spot among the Top 50 apps on Blast.

    Following a highly successful presale which raised $7 million between April and December 2024, CYBRO, an AI-driven multichain earning marketplace,  has announced that its $CYBRO token will be listed on Gate.io on December 14, 2024.

    Notably, $CYBRO’s listing comes thirteen days earlier. When announcing the conclusion of the CYBRO presale, the CYBRO team had announced that the listing was tentatively scheduled for December 27 although they were working to move it earlier.

    Gate.io to airdrop 500k CYBRO tokens before listing

    In addition to listing the $CYBRO token, Gate.io will also conduct a “GT Exclusive Airdrop” that will distribute 500,000 CYBRO tokens free of charge. 

    To successfully participate in the airdrop, subscribers will require a current holding of at least 10GT, which will be checked during Token distribution. The subscription period for the airdrop is scheduled to run from December 12, 2024, at 13:00 UTC+8 to December 14, 2024, at 13:00 UTC+8.

    The GT airdrop initiative is expected to enhance accessibility and generate further interest in CYBRO. 

    Notably, user participation funds (the 10GT) will not be deducted; it only serves as a requirement. 

    CYBRO trading on Gate.io starts on December 14

    CYBRO Trading will commence on December 14, 2024, after the conclusion of the airdrop, at 17:00 UTC+8, with the initial trading pair being CYBRO/USDT.

    CYBRO has announced that after the Gate.io listing, additional listings on another major centralized exchange and a prominent decentralized exchange are on the way, with further expansions anticipated.

    What is CYBRO?

    After the successful presale, CYBRO has emerged as a promising platform in the decentralized finance (DeFi) space. With a strong community of 18,173 token holders, the multichain earning marketplace aims to optimize Web3 investment opportunities through advanced AI portfolio management and user-centric design.

    CYBRO’s rise has been fueled by its innovative approach to simplifying DeFi investments. Leveraging AI-driven strategies, the CYBRO platform offers tools to manage portfolios dynamically, optimize yields across protocols, and accommodate diverse investor preferences. 

    Currently, CYBRO features 28 vaults, including two that provide native rewards for farming project points. These vaults are complemented by filtering and sorting tools, ensuring ease of use for both novice and experienced investors.

    The platform’s commitment to security and transparency has been underscored by four technical audits conducted by Pessimistic and QuillAudits, as well as KYC verifications completed with Assure DeFi and Certik. 

    CYBRO has also launched a $25,000 Bug Bounty program aimed at maintaining robust defence against vulnerabilities.

    To prepare for the listing, CYBRO has focused on achieving key metrics, including expanding its community and enhancing product performance. Notably, the platform’s total value locked (TVL) has grown to $120,000, earning it a spot among the Top 50 apps on Blast. Plans are in place to break into the Top 30 and reach a TVL of $1 million. 

    Recent updates, such as the introduction of a streamlined “Hub” feature for improved navigation, demonstrate CYBRO’s emphasis on user experience.

    As CYBRO continues to develop new features and strategies, its entrance into the market positions it as a notable player in the rapidly evolving DeFi ecosystem.

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  • Microsoft shareholders reject Bitcoin treasury proposal

    Microsoft shareholders reject Bitcoin treasury proposal

    • Microsoft shareholders have voted against the proposal that sought to have the tech giant add Bitcoin to its balance sheet.
    • The vote on Tuesday, December 10, 2024, followed the proposal by the National Center for Public Policy Research, and came after MicroStrategy founder and Chairman Michael Saylor added to the call for Microsoft to adopt a Bitcoin treasury via a presentation.

    On Dec. 10, details on the vote indicated Microsoft shareholders had rejected the proposal – meaning one of the world’s most valuable companies is not primed to add BTC to its treasury any time soon. Microsoft will not now take time to study the option of having the world’s largest cryptocurrency by market cap as part of its diversified portfolio.

    Saylor, whose company is the largest corporate holder of Bitcoin after a buying spree that started in 2020, said last week that Microsoft had the potential to add trillions of dollars to its market cap if it invested in the flagship digital asset.

    MicroStrategy acquired an additional 21,550 BTC worth $2.1 billion on Dec. 9, bringing its total haul 423,650 BTC bought for approximately $25.6 billion.

    Microsoft board urged shareholders to vote down proposal

    The “Assessment of Investing in Bitcoin” proposal by the National Center for Public Policy Research advocated for a 1% outlay of Microsoft’s assets into BTC. According to the proposal, the company should have weighed whether diversifying with Bitcoin to hedge against inflation was in the best interests of shareholders.

    Saylor offered a 3-minute presentation to Microsoft’s Board of Directors and the chairman and CEO Satya Nadella. The Bitcoin bull explained why taking this approach would have been the right thing for the company.

    The preliminary results of the shareholders’ vote means Microsoft could adopt this strategy at a time when BTC price will be much higher than the current $97k. The company’s board had last month asked shareholders to reject the proposal.

    Despite the outcome of the vote, some in the crypto industry are bullish on what it means to have such a proposal in place.

    Notably, the National Center for Public Policy Research has also submitted a similar proposal to Amazon.

    MSFT shares traded around $446.98 at the time of writing, with the performance largely flat on the day.  Bitcoin price fell below $95,000 on the news, reaching lows of $94,550. However, BTC was back above $95k at the time of writing as bulls target a retest of the psychological $100k level.

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  • Eric Trump praises Bitcoin, predicts it will hit $1M at Bitcoin MENA 2024

    Eric Trump praises Bitcoin, predicts it will hit $1M at Bitcoin MENA 2024

    Eric Trump praises Bitcoin, predicts it will hit $1M at Bitcoin MENA 2024
    • Eric Trump has predicted Bitcoin will hit $1M, citing its scarcity and potential.
    • Eric compared Bitcoin’s adoption to email, emphasizing early adopter advantages.
    • Eric lauded Bitcoin as a hedge against inflation, instability, and global risks.

    Eric Trump, executive vice president of the Trump Organization and son of US President-elect Donald Trump, delivered a stirring keynote address at the Bitcoin MENA event in Abu Dhabi on December 10, 2024.

    In his speech, he confidently predicted that Bitcoin’s price would one day surpass $1 million per coin, describing it as a transformative force in the global economy.

    Eric Trump highlighted Bitcoin’s unique qualities, emphasizing its limited supply of 21 million coins, decentralized structure, and potential to serve as a hedge against inflation and political instability. “Bitcoin is not just another investment,” he stated. “It’s a global asset, a store of value, and a safeguard against the uncertainties of the world—be it economic turmoil, natural disasters, or geopolitical conflicts.”

    The son of the US President-elect compared Bitcoin’s adoption journey to the widespread acceptance of email, which took decades to achieve mass use. He acknowledged that technological breakthroughs often face resistance initially, but once their utility becomes apparent, they are embraced universally.

    “People are slow to adapt to new technology, just as they were with email in the 1970s. But as Bitcoin gains traction, the sceptics will realize its transformative potential,” Eric said.

    Eric also addressed the role of financial institutions and governments, noting that many are beginning to pivot toward cryptocurrency. He shared an anecdote about a major bank executive, once sceptical of Bitcoin, now overseeing a crypto desk handling billions in investments.

    According to Eric Trump, those who embrace Bitcoin early will reap significant rewards, while late adopters risk falling behind in the digital currency revolution.

    Acknowledging Bitcoin’s recent milestone of surpassing $100,000 per coin on December 5, Eric expressed optimism about the cryptocurrency’s future. He concluded by encouraging the Bitcoin community to continue driving innovation and adoption, stating, “Bitcoiners, I love you. The Trump family stands with you. Together, we are witnessing the dawn of a new financial paradigm.”

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  • El Salvador to change Bitcoin plans to secure $1.3bn IMF loan

    El Salvador to change Bitcoin plans to secure $1.3bn IMF loan

    • El Salvador would also receive $1 billion in lending from the World Bank and $1 billion from the Inter-American Development Bank
    • Under the IMF agreement, El Salvador would change a legal requirement making businesses accept Bitcoin as payment
    • Since 2021, the IMF has been against El Salvador’s Bitcoin Law, asking the government to “narrow its scope”

    El Salvador is reportedly reducing its Bitcoin ambitions as it gets ready to receive a $1.3 billion loan from the International Monetary Fund (IMF).

    The Financial Times reports that the Central American country, which was the first to accept Bitcoin as legal tender in 2021, is expected to reach a deal in the next few weeks with El Salvador’s President Nayib Bukele’s government.

    The deal is also expected to unlock a further $1 billion in lending from the World Bank and $1 billion from the Inter-American Development Bank over the next few years.

    Under the proposed plans, El Salvador would change a legal requirement making businesses accept Bitcoin as payment, making it optional instead. The government would also reduce the budget deficit by 3.5% of GDP over three years through spending cuts and tax rises while boosting reserves from $11 billion to $15 billion.

    IMF against El Salvador’s Bitcoin adoption

    Following El Salvador’s adoption of Bitcoin in 2021, the IMF sent a statement in November 2021 “recommend[ing] narrowing the scope of the Bitcoin law” while “strengthening the regulation and supervision of the new payment system.”

    This was again called for in January 2022 when the IMF advised El Salvador to reconsider its decision on Bitcoin as the country’s legal tender. More recently, the IMF recommended El Salvador limit the public’s exposure to Bitcoin.

    Despite the advisories, El Salvador and its president remain committed to Bitcoin, going on to buy more of the asset during price dips.

    With Bitcoin reaching $100,000 last week for the first time, Bukele posted a tweet on X, showcasing its Bitcoin balance was now worth more than $600 million.

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  • Amazon shareholders call for the company to hold 5% of its assets in Bitcoin

    Amazon shareholders call for the company to hold 5% of its assets in Bitcoin

    • MicroStrategy’s stock has outperformed Amazon’s stock by 537% in the past year
    • The proposal calls for Amazon to include some Bitcoin to maximize shareholder value without taking on too much risk
    • Last week, Michael Saylor, CEO of MicroStrategy called on Microsoft to adopt Bitcoin, calling it “digital capital”

    A group of Amazon shareholders has requested that the company allocate 5% of its assets in Bitcoin.

    The National Center for Public Policy Research, a free-market, independent conservative think tank, submitted the proposal to Amazon for consideration at its 2025 annual shareholder meeting.

    The proposal, shared by Tim Kotzman, a podcast host covering Bitcoin and MicroStrategy, recommends adding “assets to its treasury that appreciate more than bonds, even if those assets are more volatile short-term.”

    The proposal points to Bitcoin’s price, which has increased more than 131% over the past year, outperforming corporate bonds by more than 126%, on average.

    “MicroStrategy – which holds Bitcoin on its balance sheet – has had its stock outperform Amazon stock by 537% in the previous year,” the proposal said.

    “And they’re not alone. Institutional and corporate Bitcoin adoption is becoming more commonplace: more public companies such as Tesla and Block have added Bitcoin to their balance sheets; Amazon’s second and fourth largest institutional shareholders – BlackRock and Fidelity, respectively – offer their clients a Bitcoin ETF; and the US government may form a Bitcoin strategic reserve in 2025.”

    The proposal points out that while Bitcoin is a “volatile asset,” Amazon’s stock was the same in the past. Because of this, companies have “a responsibility to maximize shareholder value over the long-term as well as the short-term,” adding:

    “Diversifying the balance sheet by including some Bitcoin solves this problem without taking on too much volatility. At minimum, Amazon should evaluate the benefits of holding some, even just 5%, of its assets in Bitcoin.”

    Michael Saylor calls Bitcoin “digital capital”

    The shareholder proposal comes as Michael Saylor, CEO of MicroStrategy, said to Microsoft that Bitcoin is the best asset a company should own, claiming it represents the “greatest digital transformation of the 21st century.”

    In a three-minute video posted on X last week, Saylor said:

    “Microsoft can’t afford to miss the next technology wave, and Bitcoin is the next wave. Bitcoin represents the greatest digital transformation of the 21st century; it represents digital capital.”

    Talking about long-term capital, Saylor noted that risk – including general taxes, politics, recession, regulation, war, and the weather – is destroying over $10 trillion in capital each year.

    Because of this, investors are turning their attention to digital capital, such as Bitcoin, to avoid these risks. In Saylor’s view, “it makes sense” for Microsoft to buy and hold Bitcoin rather than buy back stock or hold bonds.

    “If you’re going to outperform, you’re going to need Bitcoin,” Saylor said. “You’ve surrendered hundreds of billions of dollars of capital over the past five years, and you’ve just amplified the risks that your own shareholders face. If you want to escape that vicious cycle, you’re going to need an asset without counterparty risk.”

    In Saylor’s opinion, that lies with Bitcoin.

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