Bitcoin price today: gains to $120k, near record high on U.S. regulatory cheer
U.Today - CNBC has published a piece, talking about the recent speech of Strategy founder, Michael Saylor, during the Bitcoin 2025 event, and shared its observations regarding several other large companies that have begun to accumulate Bitcoin.
"Explosion of interest" toward Bitcoin from companies
This week, Trump Media voiced its plan to allocate $500 million to buy Bitcoin, while Tether, SoftBank and Strike’s Jack Mallers launched Twenty One — a public company that plans to add 42,000 BTC to its balance sheet.This would make it the third-biggest corporate Bitcoin holder on the planet. GameStop has also bought some Bitcoin. Still, so far, they are unlikely to surpass Strategy (formerly MicroStrategy) in terms of profitability the latter has seen since 2020, when its Bitcoin journey started. However, Saylor believes that these performance declines are just short term ones. He believes that in the long term holding Bitcoin on the balance sheet “has proven to be extraordinarily popular.”
After visiting the Bitcoin 2025 event, Saylor noticed “en explosion of interest” toward Bitcoin coming from entities, since executives were approaching him, saying they were copying Strategy’s playbook in the U.K., South Korea, Hong Kong and in other parts of the world.
Besides, CNBC reminded its readers that in March this year, president Trump signed an executive order to start building a Strategic Bitcoin Reserve, beginning with not selling the 200,000 BTC the U.S. government holds already. This week, Vice President JD Vance addressed the Bitcoin community, calling BTC “a hedge against inflation, censorship, and ’unelected bureaucrats.’”
Bitcoin will get exponentially harder to get: Michael Saylor
Saylor is certainly bullish on Bitcoin’s future. He stated that Bitcoin is “an idea whose time has come.” Therefore “no force on earth can stop it.” Saylor also called Bitcoin “the most explosive idea of the era” and “digital capital.”However, not all business giants agree with him.
Microsoft has rejected the idea of using part of its cash stockpile to buy Bitcoin. But during the video presentation, Saylor said that “Microsoft can’t afford to miss the next technology wave.” As for Strategy itself, Saylor said that the company will continue to buy Bitcoin. He believes the BTC price to continue rising.
“We think it will get exponentially harder to buy Bitcoin, but we will work exponentially more efficiently to buy Bitcoin,” Saylor said.