Michael Saylor, CEO of MicroStrategy Inc. MSTR, deemed the Donald Trump-led Republican triumph the “biggest” bullish catalyst for Bitcoin BTC/USD over the last four years.
What Happened: In an interview with CNBC on Thursday, Saylor said that the “red wave” has been “incredibly auspicious” for Bitcoin and the broader cryptocurrency industry.
The Bitcoin bull anticipated a friendlier SEC at the helm amid speculations of current chair Gary Gensler stepping aside.
“It’s very good for the cryptocurrency industry. We’re going to see a lot more pro-Bitcoin policies. We are going to see a digital assets framework. We are going to see an end to the war on crypto.,” Saylor predicted.
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With the election uncertainty behind, Saylor also ruled out any major bearish events for Bitcoin in the foreseeable future.
“I am planning the $100,000 party, and I am thinking it is probably going to be New Year’s Eve at my house. So, I would be surprised if we don’t go through $100,000 in November or December,” Saylor said in a burst of enthusiasm.
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Why It Matters: Saylor’s bullish sentiment aligned with the ongoing success of his company’s publicly-traded stock.
MicroStrategy’s shares hit a record high earlier this week, pushing the firm’s market valuation to $72.26 billion, a $50 billion increase since September 6. This gain surpassed the total capitalization of Ford Motor Co. (F) and Cognizant Technology Solutions Corp. CTSH.
The firm, known famously as Bitcoin’s biggest corporate holder, was sitting on unrealized profits of over $12.7 billion as of this writing, according to data from bitcointreasuries.net.
The company announced plans to raise as much as $42 billion in equity and debt funding over the next three years to accumulate more Bitcoin.
Price Action: At the time of writing, Bitcoin was exchanging hands at $88,121.00, down 1.89% in the last 24 hours, according to data from Benzinga Pro. Shares of MicroStrategy closed 0.22% lower at $327.67 during Thursday’s regular trading session.
Photo Courtesy: Wikimedia
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