Bitcoin to Mars? Michael Saylor Fuels Bullish Hype for BTC
MicroStrategy (MSTR) CEO and Chairman Michael Saylor's cryptic post on X (formerly Twitter) is making waves in the cryptocurrency industry. “We're going to Mars,” he said in a recent post.
Michael Saylor's Cryptic Post on X
This post on X has reached more than half a million fans, who see it as a bullish sign for Bitcoin (BTC). However, the post comes ahead of pro-crypto Senator Cynthia Lammis chairing the Senate Banking Subcommittee on Digital Assets, which partially confirms Bitcoin's stockpiling.
Political developments and Bitcoin adoption
However, later, he published another post, sharing a video of the pro-crypto Donald, in which Trump said that the United States would be the world capital of crypto.
Looking at these recent updates and strong words from industry giants, it looks like BTC could soon go higher. However, it seems to be struggling at the moment.
Saylor isn't the only one who seems bullish on Bitcoin. Previously, on January 22, 2024, Larry Fink, the CEO of the giant asset management BlackRock, said in an interview that BTC could reach 500k, $600k, or even $700k in the future. Apart from individuals from big companies, countries around the world seem to be showing interest in Bitcoin stocks right now.
$419 million Bitcoin (BTC) flow
According to the chain's analysis firm Coinbase, this illiberal attitude is beginning to attract investors and long-term owners. Data from inflows/outflows shows that exchanges have withdrawn $419.50 million worth of BTC in the last 48 hours.
Such a significant exchange rate indicates accumulation, which could create buying pressure and further upside.
Bitcoin is currently trading around $105,260 and has seen a surge of over 1.5% in the last 24 hours. At the same time, the trading volume increased by 50%, which showed strong and high participation from investors and traders.
