“Have Spacesuit, Will Travel,” he wrote, adding an emoji of a rocket ship flying into space to the tweet.
Last week, Bitcoin set a new all-time high of $75,000, and today it whooshed to $89,956, which is just inches away from $90,000.
MicroStrategy’s recent Bitcoin success has led to a large increase in its share price, as MSTR soared by more than 27% in the past month, greatly outperforming Bitcoin.
Bitcoin has been fueled by the recent change in U.S. political leadership and the Federal Reserve’s second interest rate cut this year. While in September, Jerome Powell announced a 50-basis-point reduction, this time, the Fed cut rates by 25 basis points. Still, this rate cut catalyzed Bitcoin’s large and fast price increase, with roughly four new all-time highs reached within a single week.
Besides, Bloomberg Intelligence’s chief commodity strategist Mike McGlone tweeted on Monday that Bitcoin’s correlation to the S&P 500 index over the past 60 days has surged to 0.6 (unlike that of gold), which suggests that BTC’s current price surge may also be attributed to the rising stock market.
This article was originally published on U.Today
Source: Cryptocurrency - investing.com
