MicroStrategy and Tesla: Winners Amid Bitcoin’s Record Surge
In 2020, MicroStrategy’s co-founder and executive chairman, Michael Saylor, made a bold move by investing in Bitcoin as a hedge against inflation during a period of stagnant revenue growth.
This decision has now proven highly profitable as Bitcoin recently broke through the much-anticipated $100,000 mark, peaking at $103,801 before stabilizing.
Bitcoin’s latest rally was driven by the appointment of Paul Atkins as the new chairman of the U.S. Securities and Exchange Commission, replacing Gary Gensler. Atkins is perceived by the market as being more crypto-friendly, which has reignited enthusiasm in the digital asset sector.
Main Bitcoin Adopters
The milestone has also been celebrated in the public sphere. El Salvador’s President, Nayib Bukele, a well-known advocate of Bitcoin, praised the rise, as did numerous entrepreneurs and corporations that had previously invested in the cryptocurrency.
Among the biggest winners is MicroStrategy, which holds over 252,000 Bitcoins—valued at more than $26 billion at the recent price surge. The company originally acquired this massive holding with a $9.9 billion investment, according to CoinGecko.
This surge has reaffirmed Bitcoin’s potential as a long-term asset, vindicating early adopters like Saylor and cementing MicroStrategy’s position as a leader in corporate Bitcoin adoption.
Politics Boosting Bitcoin
Billionaire Elon Musk, a key ally of Donald Trump and a vocal supporter of cryptocurrencies, has been appointed to lead the newly established Department of Government Efficiency (DOGE). The acronym, coincidentally aligning with Musk’s favorite cryptocurrency, Dogecoin, has already sparked widespread interest in the crypto community.
Meanwhile, Trump took to Truth Social to claim credit for Bitcoin’s record-breaking surge, which saw the cryptocurrency exceed $100,000 for the first time.
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