Saylor did not go into much detail in his post on Bitcoin’s future price movement. However, crypto enthusiasts have interpreted his statement in different ways. While some described Bitcoin as the key to generational wealth, others say it is the key no one should dream of missing.
Bitcoin has demonstrated impressive performance in the past week, increasing by 9.75% to $58,118. On the daily time frame, BTC declined by 3.8%. Notwithstanding, the trading volume spiked 86% to $31 billion. As investors remain bullish, Bitcoin’s recovery to $60,000 could happen sooner than expected.
The coin has climbed above $60,000 in the past; therefore, achieving this level should not be too difficult. Moreover, new funds have reportedly flowed into the spot Bitcoin market, with BlackRock’s IBTC amassing $525.5 million in a single day. Increased momentum in the spot Bitcoin ecosystem could fuel further increases in Bitcoin’s price.
Meanwhile, MicroStrategy’s bold move to acquire Bitcoin four years ago, championed by Michael Saylor, seems to be paying off. The company, whose shares collapsed in early 2000, has outperformed 499 out of 500 stocks in the S&P 500.
This article was originally published on U.Today
Source: Cryptocurrency - investing.com
