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Markets Daily Crypto Roundup
Crypto Update | MicroStrategy: Prime Bitcoin Halving Bet? With Mark Palmer
Feb 29, 2024
Exploring MicroStrategy's shift towards AI and business intelligence software, Bitcoin halving impact on the market, Bitcoin miners' preparation for the upcoming halving, and the advantages of choosing MicroStrategy over spot Bitcoin for institutional investing.
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Quick takeaways
- MicroStrategy acts as a levered play on Bitcoin, outperforming Bitcoin since its adoption of a Bitcoin acquisition strategy.
- Bitcoin's price is projected to reach $125,000 by the end of 2025, driven by supply-demand dynamics and institutional interest through Bitcoin ETFs.
Deep dives
Bitcoin Price Volatility and Recovery
Bitcoin experienced price volatility, surging to $64,000 before dropping to $59,000, causing $700 million in liquidations. However, it has recovered, trading at $62,654, showing a 5.5% increase. Ether also rose by 4.5% to $3,465, while assets in the CoinDesk 20 index were all in the green, with Dogecoin and Shiba Inu leading the pack.
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