Guy Adami Thinks Bitcoin Could Double In One Year's Time

Those who think that Bitcoin BTC/USD is going to double during the next year are probably going to be right, Fast Money trader Guy Adami said Friday on CNBC's "Power Lunch."

Guy Adami told CNBC that he has gotten to know Michael Saylor, CEO of MicroStrategy Incorporated MSTR pretty well recently and that Saylor turned him into a Bitcoin believer. 

"Can you imagine if over the next couple of months, Apple Inc AAPL says we are going to put 10% of our cash holdings into cryptocurrency," Adami said. 

What Happened: MicroStrategy made headlines after the company purchased Bitcoin multiple times in 2021. The company announced in its earnings report yesterday that it currently holds about 91,579 Bitcoins at an aggregate cost of about $2.23 billion.

"We will continue to acquire and hold additional bitcoin as we seek to create additional value for shareholders," Saylor said. 

Related Link: MicroStrategy Reports Up To 52% Increase In Revenue, Says Might Sell Bitcoin In The Future

Price Action: Bitcoin is up 96.62% year-to-date. At last check Friday, Bitcoin was up 6.07% at $56,837.90. 

(Image by Eivind Pedersen from Pixabay)