Bitcoin Price Hits New Record High as Michael Saylor Smiles
Bitcoin Price Surges
Bitcoin prices soared past $70,000 this week, reaching an all-time high since the 2021 crypto bull run. The surge has been met with enthusiasm from the crypto community, especially Michael Saylor, the man behind the world’s largest corporate Bitcoin investor.
Michael Saylor’s MicroStrategy Buys More Bitcoin
MicroStrategy, led by Michael Saylor, recently made a significant investment in Bitcoin by purchasing 12,000 BTC tokens for $821.7 million. This move marks one of their largest buys in nearly four years of investing in the cryptocurrency.
Analysts’ Views on MicroStrategy
Following the new Bitcoin investment, analysts at Canaccord Genuity raised the target price on MicroStrategy stock to $1,810. They emphasized the company’s strategic Bitcoin acquisitions and how it has positively impacted its stock performance.
Bitcoin and MicroStrategy’s Performance
Bitcoin’s value has increased by over 70% this year, while MicroStrategy’s shares have seen a triple-digit gain of 142% during the same period. The company’s innovative approach to acquiring Bitcoin has driven significant price accretion, adding value to its stock.
