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MicroStrategy’s co-founder, Michael Saylor, outlined key factors behind Bitcoin’s bullish future during a recent interview. He emphasized Bitcoin as the top asset of the 21st century, offering a hedge against inflation and serving as a reliable store of value. Saylor also highlighted Bitcoin’s volatility as an attractive feature for investors seeking substantial returns.
“MicroStrategy’s end game is to be the leading Bitcoin bank and create a trillion-dollar company” – Michael Saylor pic.twitter.com/U7zR1a15TM
— Altcoin Daily (@AltcoinDailyio) October 13, 2024
With MicroStrategy holding 252,220 BTC, valued at over $15 billion as of September 2024, the company remains the largest corporate holder of BTC globally. This significant investment aligns with MicroStrategy’s ambition to become a leading Bitcoin bank. Saylor believes Bitcoin will play a central role in institutional and retail investments in the future, driving increased adoption and value. His vision underscores the expectation that Bitcoin will maintain a bullish trajectory as more investors recognize its transformative potential in the financial landscape.
Key Bitcoin Levels To Watch – October 17
The BTCUSD chart shows bullish momentum as the price breaks the structure (BOS) near the $66550 level. A significant rejection occurred at the $57480 support zone, which aligns with the order block (OB) and SSL (sell-side liquidity) capture, providing a strong reversal signal.
The price has surpassed the 9-day SMA, further confirming bullish strength, with an upward target toward the $70000 and $73840 resistance levels. The RSI (Relative Strength Index) is trending upward around 57.64, supporting the bullish outlook.
BTCUSD Key Levels
Resistance Levels: $70000, $73840, $80000
Support Levels: $57480, $52530, $49050
BTC/USD Metrics
Total Market Capitalization: $2.24T
Bitcoin Market Capitalization: $1.28T
Bitcoin Volume: $27.60B
Market Rank: #1
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