Bitcoin’s Biggest Bull Makes Wild $ 6 Million Price Prediction As Ethereum Rivals Make Huge Gains

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Bitcoin and cryptocurrency prices hosted a late Santa Claus rally this week, with the price of bitcoin rising by more than $ 50,000 per bitcoin, even as Tesla co-founder Elon Musk and Twitter Jack Dorsey , looks at the future of crypto.

The price of bitcoin has reached levels not seen since before its crash in early December, raising the price of Ethereum. Meanwhile, smaller cryptocurrencies, including Ethereum and its bigger rivals, have exploded in recent weeks.

Ahead of the crypto market boom before Christmas, bitcoin evangelist Michael Saylor’s huge bitcoin price prediction was revealed, along with his personal bitcoin stash of nearly $ 900 million.

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MicroStrategy CEO Michael Saylor has bought huge volumes of bitcoin over the past year as the … [+] the price of bitcoin has skyrocketed.

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MicroStrategy chief executive Michael Saylor, who has turned his business intelligence company into a bitcoin acquisition vehicle for the past 18 months, expects the price of bitcoin to eventually hit $ 6 million, according to details of a November interview with technology news site The Information published in its Global Crypto Newsletter this week.

A $ 6 million bitcoin price, which has already risen from around $ 4,000 in March 2020 to highs of nearly $ 70,000 last month, would give the nearly 19 million bitcoin in circulation a combined value of $ 126 trillion, an increase of about 12,000% from its near current price. – A market capitalization of $ 1 trillion, making it by far the most valuable commodity in the world.

Saylor also said he personally owned 17,732 bitcoins, worth around $ 832 million at current prices, and had never sold any.

“I don’t think you should sell your bitcoin,” Saylor told The Information.

MicroStrategy, having started acquiring bitcoin in August 2020, has now purchased just over 122,000 bitcoins worth almost $ 6 billion and is increasingly run as two separate companies.

“Right now, the strategy is to run the software industry as strong as possible,” Saylor said. “On the other hand, we acquire and hold bitcoin.”

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The price of bitcoin jumped this week, hitting over $ 50,000 per bitcoin for the first time since … [+] Early December.

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MicroStrategy’s first $ 250 million bitcoin purchase is now worth around $ 1 billion and since then it has made a series of successful bitcoin purchases funded by the company’s debt. Its last $ 82 million bitcoin purchase was made earlier this month.

The company’s share price has skyrocketed since August 2020, adding 300%, but has fluctuated sharply with the highly volatile price of bitcoin.

Saylor, who is infamous for losing $ 6 billion in a single day at the height of the dot-com bubble, has become known for his extravagant and ostentatious bitcoin quotes.

“Bitcoin is a swarm of cyber hornets in the service of the goddess of wisdom, feeding on the fire of truth, getting smarter, faster and stronger behind a wall of encrypted energy,” Saylor tweeted in September 2020.

Bitcoin’s huge rally over the past year has helped it be taken more seriously on Wall Street and by established tech giants. Bitcoin has hit Wall Street this year, with many of the biggest banks starting to roll out crypto services and stack up in the crypto markets.

This week, former Twitter TWTR chief executive Jack Dorsey, who recently left the social media giant he co-founded to grow his payments company, predicted that bitcoin would eventually replace the US dollar.

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