The chairman of MicroStrategy, Michael Saylor recently presented a 44-slide presentation of why to invest Bitcoin in front of the Microsoft board. He argued with the board that strategically investing in Bitcoin could help the company’s market capitalization and stock price reach new heights.
As per Saylor’s beliefs, the investment of Microsoft in Bitcoin could strengthen the adoption among individuals and investors, and could also help in generating trillions in enterprise value.
Bitcoin’s advocacy by Michael Saylor is expected to create a positive sentiment over the wider finance market as MicroStrategy the company headed by him is among the leading firms owning Bitcoins worth billions of dollars.
Saylor remains in the spotlight due to his pro-crypto attitude, reportedly he individually also holds Bitcoins worth millions of dollars.
In his presentation, Saylor exemplifies Texas and Brazil for their pro-crypto attitude towards other nations favoring cryptocurrencies.
While concluding his presentation he said “It’s time for Microsoft to evaluate its Bitcoin strategic options. Do the right thing for the world and adopt Bitcoin.”
Why do companies like Microsoft, Apple, and others consider buying Bitcoin?
Hundreds of crypto experts argue that the strategic adoption of Bitcoin by giant companies like Microsoft, Apple, and others will boost a positive sentiment among digital asset enthusiasts, which will ultimately lead to a surge in the wider adoption of cryptocurrencies, especially Bitcoin.
In the past few months, several publicly traded firms holding Bitcoins and other crypto have booked millions in profit by selling their holdings.
Also, there are firms that saw a staggering growth in their trading price and market capitalization since they started to adopt BTC as their investment strategy.
However, MicroStrategy and GrayScale are termed trendsetters of institutional Bitcoin buying, followed by Metaplanet and several others.
Why does Bitcoin require special attention?
Bitcoin is considered to be different from all other cryptocurrencies in terms of prices, features, and existence. As of writing, BTC was trading at $105, 412 with an intraday surge of 2.33 percent and weekly growth of 7 percent. Bitcoin continues to prove its relevance by attracting millions of new investors with over a billion in fresh funding.
The ongoing bullishness in Bitcoin prices has created speculations in the wider market that it has the potential to cross the mark of $200k in the coming future, however, some near-speculated resistance by analysts are $150k and $165k.
Despite this bullishness in Bitcoin trading prices and the wider market, the cases concerning hacks, theft, and breaches have surged at a greater pace since the beginning of 2024.
There is a need for a clear set of rules and regulations for cryptocurrency, with improved security and other features by the firms offering such services. These practices could help the market reach a wider mass.
According to the data available on TradingView, the prices of Bitcoin grew 148 percent in the year-to-date time frame, and over 78 percent in the past one quarter. Similarly, the market capitalization has also shown a growth of 150 percent in the YTD frame and a staggering growth of 80.13 percent in a quarter.
The market capitalization and price of Bitcoin have surpassed all EMAs, currently trading above 20, 50, 100, and 200 days exponential moving average.
