© Reuters.
MicroStrategy CEO Michael Saylor has expressed an optimistic outlook for Bitcoin, emphasizing its potential for stability and growth in the year ahead. In a recent interview with CNBC, Saylor highlighted several factors that could positively influence Bitcoin’s trajectory in 2024.
One of the main drivers for Bitcoin’s future, according to Saylor, is the expected approval of a spot Bitcoin ETF. This development is expected to provide easier access to Bitcoin for investors, potentially increasing demand for the cryptocurrency. Additionally, Saylor pointed out that favorable changes in monetary policy could further strengthen Bitcoin’s appeal.
The upcoming Bitcoin Halving event is another important factor that Saylor believes will positively impact Bitcoin supply. Halving events, which occur approximately every four years, reduce the number of new bitcoins in circulation. This event has historically led to an increase in the price of Bitcoin due to reduced supply pressure.
Saylor also noted growing interest in Bitcoin among countries with high inflation rates. For these countries, Bitcoin is increasingly seen as a more stable asset than their local currencies, which often lose value.
Since MicroStrategy began investing in Bitcoin in August 2020, the company has seen its stock value increase in tandem with Bitcoin’s recovery to around $43,000. CEO’s confidence in Bitcoin goes beyond market trends; He mentioned that updated accounting standards from the Financial Accounting Standards Board (FASB) could encourage more companies to accept Bitcoin as a Treasury reserve asset.
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