Bitcoin firm above $40K, Michael Saylor says bull run imminent
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The Bitcoin price is pushing ahead, up 2.22% in the last day. Currently, it is trading at $43.7K, with Bitcoin Key Opinion Leader and MicroStrategy co-founder Michael Saylor predicting that the next bull run is near. Meanwhile, a new crypto mining project, Bitcoin Minetrix, is also gathering pace. Its presale has raised over $5.6 million.
Spot Bitcoin ETFs and halving will kickstart 2024 bull run
In a recent conversation with Bloomberg, Michael Saylor reinforced the significance of the upcoming spot Bitcoin ETF approvals, suggesting it could be the biggest development for Wall Street in 30 years.
Saylor said most crypto liquidity is from HODLers and crypto enthusiasts.
However, Saylor highlights that mainstream retail and institutional investors “have not had a high bandwidth compliant channel to invest in this asset class until these spot ETFs.”
The MicroStrategy co-founder predicts that the initial ETF approvals will create a demand shock, causing Bitcoin demand to outpace supply.
However, he added that because of the next halving event, the amount of coins earned by miners will drop by half.
When asked about the impact this may have on Bitcoin’s price, Saylor explained, “I don’t think we’ve ever seen a 2-10x increase in demand combined with a halving in supply in a scarce desirable asset that people want to hold for a long period of time.”
He continued, “2024 is going to be a major bull run for the asset class; we just don’t know how far the asset is going to run at this point.”
Ultimately, Michael Saylor believes the combination of the Bitcoin halving, which has historically aligned with the Bitcoin bull run, and the upcoming ETF approvals will bolster prices in 2024.
However, the MicroStrategy co-founder also noted that there are ways to outperform Bitcoin in the market. He suggests that buying the MicroStrategy stock is one of those ways, but another is buying Bitcoin-related assets with solid fundamentals.
According to analysts, investors can consider Bitcoin Minetrix.
Bitcoin Minetrix presale exceeds $5 million
Bitcoin Minetrix is a stake-to-mine project for users to cloud-mine Bitcoin on Ethereum
BTCMTX stakers receive Bitcoin mining credits which are non-transferable ERC-20 tokens that users can burn to earn cloud mining power.
This process is simple and beginner-friendly; users require no hardware or specialist knowledge. Moreover, they can get started free of space and noise restraints since it is all in the cloud.
Another benefit is that BTCMTX eradicates the risk of cloud mining scams, making Bitcoin Minetrix a convenient and secure way for anyone to earn BTC.
But besides earning Bitcoin, Bitcoin Minetrix investors benefit from potential capital appreciation of the BTCMTX.
Since users require it for staking, demand is high.
However, many tokens will be locked in the staking contract, and rewards are paid out in mining credits, not BTCMTX. This creates an environment of high demand and low supply, meaning the Bitcoin Minetrix price could rallye.
The presale is ongoing, raising over $5.6 million so far.
BTCMTX is available for $0.0123 in the current phase of the presale.
Visit Bitcoin Minetrix presale
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