CandleFocus Bitcoin Reclaims $100K as MicroStrategy's Saylor Rejects Idea of Taking Gains
2024-12-11
Author: Content Editor
Bitcoin has surged back above the $100,000 level and is currently trading at $100,705, nearing a market cap of $2 trillion. MicroStrategy co-founder, Michael Saylor, stated in an interview that the community would react negatively if he were to sell Bitcoin, with decreased trust being a major concern. MicroStrategy now holds $42.5 billion worth of Bitcoin at an average purchase price over $60,000. Saylor also expressed his preference for investing in ways that he understands rather than in an opaque manner. Additionally, Saylor agreed with Federal Chair Jerome Powell's statement that Bitcoin is competing with gold and even suggested selling gold due to its potential demonetization. Despite institutional interest in Bitcoin, it has yet to surpass gold in terms of market cap.
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