🔥My FREE Daily On-Chain Analysis & Crypto News In 5-Mins:
👉🏻 https://www.cryptonutshell.com/subscribe
🔥🌳 You can NOW Become a member of our channel to support us! 🌳👑
👉🏻 https://www.youtube.com/channel/UCWZg7FTpyFB9lSpk-_cVr3Q/join
This crypto expert gave his top 5 catalysts as to what’s going to spark the next bull-run. 🚀 Today’s expert is the godfather of Bitcoin, Michael Saylor. (godfather gif)If you’re new to crypto, Saylor is essentially the King of Bitcoin. Here’s his impressive resume –
– Is the man who spearheaded the institutional wave of adding Bitcoin to companys balance sheets.
– First started buying Bitcoin in 2020 when Bitcoin was at just $11,000
– Now owns 152,333 Bitcoin worth over $4.5 Billion through his company Microstrategy
– Is the guy that convinced Elon Musk to add Bitcoin to the Tesla and SpaceX balance sheets
In his latest interview, Saylor got poised an interesting question – What will spark the next bull run? 🤔 He had an interesting answer – Saylor outlined 5 major milestones, any one of which could be the spark to erupt the next Bull Run. These were: 1. The Bitcoin Halving. The next Bitcoin halving is scheduled to take place in exactly 250 days from now, on April 17, 2024. ⏰ Saylor argues that when $10 Billion of new Bitcoin being put onto the market each year gets cut to $5 Billion, this is going to have an obvious upwards effect on the Bitcoin price, as it always has.
2. FASB initiative to adopt fair value accounting for Bitcoin. This is an interesting one – FASB is the governing body for how companies must represent Bitcoin in their financial reporting. 🤓 Right now, Bitcoin is treated not like securities or cash, but more like a patent or a trademark. Once a company has Bitcoin on its balance sheet, if the price of Bitcoin drops, the company has to write down its value and take a loss on their income statement. BUT – if the price of Bitcoin goes up – the company is not allowed to write up the value or recognise the gain. It can only recognise the gain once it actually sells the Bitcoin. This creates a huge deterrent for companies to add Bitcoin to their balance sheets. As Bitcoin is so volatile, a company can see huge write downs on their Bitcoin holdings which impacts how their earnings look. Even if it’s just on paper, it makes their financial performance appear much worse than it really is, which upsets shareholders and potential investors.
However efforts are being made to have this changed to fair value, where companies can report on the true value on the Bitcoin they hold. Saylor argues that this could be a huge catalyst for Bitcoin.
3. Approval of a spot Bitcoin ETF. Saylor argues that as soon as a spot Bitcoin ETF is approved, the floodgates are open for capital to flow into the space. 👮♀️
The date to look out for? 16th of March, 2024 – the deadline for decision on BlackRocks Spot Bitcoin ETF.
4. Approval or endorsement by the SEC of a regulated crypto exchange. Saylor argues that this overlooked factor could be a huge green flag to sophisticated investors. 🧑⚖️ Currently the SEC is waging war against crypto exchanges, with two huge lawsuits against the two largest crypto exchanges – Binance & Coinbase. If they approved or endorsed a regulated exchange, this would be a big nod of approval that would allow institutions to invest without fear of regulatory action.
5. Any constructive guidance or regulation out of Washington DC. Even though Bitcoin and the crypto industry has made huge milestones over the past few years, the regulation surrounding crypto is still very messy and opaque. (They’re still arguing over if Ethereum is a commodity or security) 🇺🇸 Saylor argues that clear regulation in the space would be a huge milestone too.
Boom. 5 seperate sparks from the man himself, each of which could ignite the next bull-run The best part? They’re not mutually exclusive and any or ALL of them could happen in the next 12 months. 😳
Exciting times.
About Michael Saylor:
Michael J. Saylor is an American entrepreneur and business executive, who co-founded and leads MicroStrategy, a company that provides business intelligence, mobile software, and cloud-based services.
———————————————————————————————————————–
SOCIALS
Twitter: https://twitter.com/JaminTree
My Instagram: https://www.instagram.com/jamiecurrie_
Email: jamin.tree@gmail.com
———————————————————————————————————————–
#Ethereum #Bitcoin #MichaelSaylor
“Why Owning Just 0.1 Bitcoin (BTC) Will Change Your Life” | Michael Saylor Prediction
