In a bold proclamation as 2023 comes to a close, MicroStrategy founder Michael Saylor has declared Bitcoin as "this year's winner."
In a bold proclamation as 2023 comes to a close, MicroStrategy founder Michael Saylor has declared Bitcoin as “this year’s winner.”
The renowned investor shared his sentiment Saturday on X (formerly Twitter) along with a compelling image showcasing the remarkable growth of Bitcoin compared to other traditional assets.
Saylor’s endorsement of Bitcoin’s supremacy comes amidst a dynamic year for the cryptocurrency market. Just a day prior to Saylor’s statement, CoinGecko released its list of the best-performing digital assets in 2023, revealing that 92% of the top 100 by capitalization exhibited growth. Notably, the standout performer was Solana-based meme coin Bonk, boasting an astonishing 7302.9% increase. However, Saylor’s focus remained on Bitcoin, emphasizing its status as the undeniable leader in the race for returns.
On December 30, Saylor took to Twitter to share an image featuring an “army” of Bitcoin supporters waving flags adorned with the cryptocurrency’s logo. His caption, “Forward together,” echoed his optimism for the future of Bitcoin. Just two days earlier, Saylor had referred to Bitcoin as “the future” and posted an image of an eye with the Bitcoin logo, further emphasizing his bullish outlook.
In a move to gauge market sentiment, Saylor conducted a survey among his subscribers on December 26, seeking their predictions for Bitcoin’s price growth in 2024. Based on 75,546 votes, the results indicated varying expectations, with 34.9% anticipating a price of $100,000 and 27.9% foreseeing a price above $200,000.
Saylor’s enthusiasm for Bitcoin’s future extends to his anticipation of a spot Bitcoin ETF launch, which he believes could be the “biggest event on Wall Street in the last 30 years.” He recently predicted a “demand shock” followed by a “supply shock” from the halving, potentially propelling Bitcoin either to zero or to an unprecedented $1 million. Saylor emphasizes that institutional legitimacy is crucial for the latter scenario.
That said, Saylor’s bullish sentiments come even as his company, MicroStrategy, continues to expand its Bitcoin stash. The business intelligence company recently announced the acquisition of an additional 14,620 BTC for approximately $615.7 million. This follows a series of strategic purchases throughout the year, bringing MicroStrategy’s total Bitcoin holdings to an impressive 189,150 BTC, acquired for $5.9 billion at an average price of $31,168.