U.Today - Michael Saylor, the founder and executive chairman of MicroStrategy business intelligence firm that has switched to Bitcoin, has taken to his official account on the social media platform X (formerly known as Twitter) to address MSTR holders regarding the recently earned weekly gains.
MicroStrategy has prepared big Bitcoin yield to holders
The founder of MicroStrategy has announced that over the last week, the company treasury operations brought a weekly Bitcoin gain of 1,440 BTC to MSTR holders. Saylor clarified that it is 0.32% yield versus the 447,470 Bitcoins held by the company now. At the current Bitcoin price of roughly $96,000, 1,140 BTC is valued at slightly more than $138 million in total. The company now holds the equivalent of $43,482,712,500.Earlier this week, MicroStrategy announced yet another large Bitcoin purchase as it acquired a $243 million BTC stash. The previous accumulation was made this year on January 5, when the company scooped up $101 million worth of Bitcoin.
Tom Lee assumes Bitcoin may crash to $50,000
Bitcoin permabull and chief expert at Fundstrat Tom Lee has visited the CNBC studio to discuss the recent Bitcoin collapse with its regular hosts.Tom Lee believes that when BTC crashed to $90,000 from $96,000, it was a normal correction of roughly 15% after the recent highs reached by the leading digital currency. Lee opined that Bitcoin may demonstrate an extended correction to $70,000. However, it may drop even lower and touch on the $50,000 zone. However, if that happens that’s where it would push from to start rallying.
Lee noted that this year Bitcoin is expected to be one of the best-performing assets and reach $250,000 by the year’s end.
Bitcoin pares losses, recovering to $97,000
Today, Bitcoin staged a recovery, rising by roughly 7.21% and spiking from $90,600 to $97,140 per coin. There have been some bullish drivers here, including the decision of the new US president’s administration to approach trade tariffs. As a result Bitcoin, US Treasuries and S&P 500 futures have showed impressive gains.Besides, the PPI data release is expected today with a 3.7% increase YoY in December. Another inflation metric CPI is expected to come out tomorrow, also higher than the previous one – 2.9% YoY.