The post Michael Saylor Reacts to Bitcoin’s Surge Past $98,000 appeared on BitcoinEthereumNews.com.

Cover image via U.Today Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. Bitcoin, the first and largest cryptocurrency by market capitalization has surpassed $98,000, marking a new all-time high.  Among those celebrating Bitcoin’s spectacular surge is MicroStrategy’s chairman and cofounder Michael Saylor, a long-time advocate of the cryptocurrency. In a tweet, Saylor wrote, “We’re going to need a bigger rocket. Bitcoin,” perfectly capturing the excitement of the moment. Related For MicroStrategy, which touts itself as the world’s first and largest Bitcoin treasury company, this implies a validation of its bold investment strategy. As of Nov. 18, MicroStrategy held 331,200 BTC acquired for about $16.5 billion at nearly $49,874 per Bitcoin. Bitcoin surpasses $98,000 Bitcoin surpassed the $98,000 mark for the first time on Thursday, marking the fourth day of increases. Bitcoin’s price last increased by more than 3% to $97,508, according to CoinMarketCap data. Previously, it reached as high as $98,370. Cryptocurrency exchange Coinbase stock gained 3% in premarket trading, while MicroStrategy, which trades as a Bitcoin proxy, rose 11%. Mining stocks increased as well, with Mara Holdings up 9%. Related Bitcoin has consistently set new records since the start of November, though in smaller increments.  This most recent price increase might have been prompted by an increase in funding rates and open interest on the futures market during the Asian trading day. Around the same time, spot market…

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Filed under: News - @ November 22, 2024 2:28 am