Bitcoin

April

<div class="watcher-guru">
 <p>Micheal Saylor is one of the most vocal Bitcoin (BTC) proponents globally. Saylor’s firm, Micro<a rel="noopener noreferrer nofollow" title="strategy" href="https://thebittimes.com/tag/strategy.html">strategy</a>, is also one of the biggest holders of the original crypto. Micro<a rel="noopener noreferrer nofollow" title="strategy" href="https://thebittimes.com/tag/strategy.html">strategy</a>’s stock price has surpassed the $520 mark, the highest since December 2021. The company’s <a rel="noopener noreferrer nofollow" title="strategy" href="https://thebittimes.com/tag/strategy.html">strategy</a> of holding BTC for the long term has yielded lucrative results. Micro<a rel="noopener noreferrer nofollow" title="strategy" href="https://thebittimes.com/tag/strategy.html">strategy</a> currently boasts a market cap of about $7.33 billion.</p>
 <p><strong>Also Read</strong>:<strong> Bitcoin: GBTC May Lose $2.7B If ETF Approved: JPMorgan</strong>.</p>
 <p>Micro<a rel="noopener noreferrer nofollow" title="strategy" href="https://thebittimes.com/tag/strategy.html">strategy</a>’s stock price doubled in just one month earlier this year. The firm’s BTC holdings have turned profitable, with an average purchase price of $29,803&nbsp;per coin. The company currently holds around 140,000 Bitcoin, worth around $4.4 billion. Although the company reported a loss of $143.4 million in its last quarterly report, it continued to buy BTC, purchasing 6,067 coins for about $167 million.</p>
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 <h3 class="wp-block-heading" id="h-will-bitcoin-continue-its-upward-momentum">Will Bitcoin continue its upward momentum?</h3>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="585" src="https://cdn.thebittimes.com/images/2023/11/28/9f305266c56b3a72c3071c1d1b89f2af.webp" alt="Bitcoin Fees Hit 2022 High Following Ordinals Recent Surge" class="wp-image-118426" srcset="https://cdn.thebittimes.com/images/2023/11/28/9f305266c56b3a72c3071c1d1b89f2af.webp 1024w, https://cdn.thebittimes.com/images/2023/11/28/9f305266c56b3a72c3071c1d1b89f2af.webp 300w, https://cdn.thebittimes.com/images/2023/11/28/9f305266c56b3a72c3071c1d1b89f2af.webp 768w, https://cdn.thebittimes.com/images/2023/11/28/9f305266c56b3a72c3071c1d1b89f2af.webp 1536w, https://cdn.thebittimes.com/images/2023/11/28/9f305266c56b3a72c3071c1d1b89f2af.webp 380w, https://cdn.thebittimes.com/images/2023/11/28/9f305266c56b3a72c3071c1d1b89f2af.webp 550w, https://cdn.thebittimes.com/images/2023/11/28/9f305266c56b3a72c3071c1d1b89f2af.webp 800w, https://cdn.thebittimes.com/images/2023/11/28/9f305266c56b3a72c3071c1d1b89f2af.webp 1160w, https://cdn.thebittimes.com/images/2023/11/28/9f305266c56b3a72c3071c1d1b89f2af.webp 1792w" sizes="(max-width: 1024px) 100vw, 1024px">
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 <p>Analysts anticipate a bull run for the crypto market in 2024. Bitcoin (BTC) will undergo its next halving cycle in April 2024, which many consider a bullish event. Moreover, there is a possibility that the SEC (Securities and Exchange Commission) will approve a spot BTCETF (Exchange Traded Fund) early next year. Both events may usher in another bull run for the crypto industry. BTC could be the market leader in such a scenario, with some expecting the original crypto to surpass its 2021 peak of $69,044.</p>
 <p>Moreover, holding BTC for the long term has proven profitable for almost every instance. BTC has been among the best-performing assets in the last decade, outperforming many top stocks and commodities. Some have even predicted that BTC will touch the $100,000 mark soon, while others have given estimates of the coin reaching $1 million. Furthermore, if a spot BTC ETF is approved, we may see a rise in institutional adoption of BTC products, which may strengthen the asset’s price further.</p>
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<div class="cs-entry__tags">
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  <li>bitcoin</li>
  <li>microstategy</li>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/bitcoin-microstrategy-stock-reaches-2-year-high-after-btc-surge-tbt71818.html">https://thebittimes.com/bitcoin-microstrategy-stock-reaches-2-year-high-after-btc-surge-tbt71818.html</a></p>

Bitcoin: Microstrategy Stock Reaches 2-year High After BTC Surge

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