Reserve

bullish

2024

Bitcoin

<h2 id="key-points">Key Points</h2>
<ul>
 <li>Michael Saylor compares Senator Lummis’ proposed Bitcoin Reserve bill to the “Louisiana Purchase”, predicting it could reshape U.S. crypto adoption.</li>
 <li>Saylor maintains his bullish stance on Bitcoin, even projecting potential long-term gains of up to $49 million per coin.</li>
</ul>
<p>Michael Saylor, co-founder and chairman of MicroStrategy and a staunch supporter of <a href="https://coineagle.com/price/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin</a>, has once again grabbed attention in the midst of the recent crypto market turmoil.</p>
<h2 id="saylor-s-views-on-the-bitcoin-reserve-bill">Saylor’s Views on the Bitcoin Reserve Bill</h2>
<p>In an interview with CNBC, Saylor was asked about Bitcoin’s steep decline and the potential catalysts for a recovery. He responded by highlighting the recent Bitcoin 2024 event in Nashville and the proposed Bitcoin Reserve bill by Senator Lummis, which he likened to the “Louisiana Purchase”.</p>
<p>The “Louisiana Purchase” in 1803 was a transformative event that doubled the size of the U.S. Saylor believes that Lummis’ Bitcoin Reserve bill could have a similar impact on U.S. crypto adoption and establish the country as a leader in the crypto space.</p>
<h2 id="saylor-s-consistent-support-for-bitcoin">Saylor’s Consistent Support for Bitcoin</h2>
<p>Saylor has been a consistent supporter of Bitcoin, maintaining his bullish stance even during periods of significant bearish pressure. During a keynote speech at the Bitcoin 2024 conference, he projected that Bitcoin could reach $13 million per coin by 2045.</p>
<p>He suggested that his revised estimate of $10 million for Bitcoin was just a baseline scenario, with a bear case of $3 million and a bull case of $49 million.</p>
<p>Despite the recent downturn in the crypto market, Saylor’s strong support for Bitcoin remains notable.</p>
<p>The latest update shows that Bitcoin has risen by 1.67% over the past 24 hours, trading around the $57,000 mark. However, with an RSI at 36, sellers still outweigh buyers. Nevertheless, the widening Bollinger Bands signal increased volatility, suggesting that bullish momentum may soon surpass bearish pressure.</p>

Understanding Why Michael Saylor Likens Lummis’ BTC Bill to the ‘Louisiana Purchase’

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CoinEagle.com

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