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The post MicroStrategy’s Bitcoin Holdings: Unraveling a High-Stakes Investment Strategy appeared first on Coinpedia Fintech News

Recently, an announcement made by microstrategy

microstrategy
–

Business Intelligence

executive chairman Michael Saylor

Michael Saylor

 
Michael Saylor is a co-founder of Strategy (formerly MicroStrategy). Before founding Microstrategy, he was a rocket scientist and studied aeronautics and astronautics at MIT on an Air Force scholarship. He dubs Bitcoin 'Digital Gold'.
 
He made some early investment in Bitcoin as soon as he realized it was going to be the next big thing in shaping decentralized finance from traditional finance. His firm Strategy has made Bitcoin their primary treasure reserve.
 
Quick Facts
 

Full Name

Michael J. Saylor

Birth

04-02-1965 in Lincoln, Nebraska

Education

BSc from MIT

Marital Status

To be updated / Unmarried

Nationality

American

Net Worth

$8.4B (Feb. 20205, Refer for realtime)

 
As per Forbes, Saylor bought another 17,732 bitcoins for $175 million in October 2020. Forbes covered Michael Saylor on its front page and called him "The Bitcoin Alchemist" as the latter's Net Worth hit a whopping $7.6B in January 2025.
 
Michael Saylor – Career Timeline
 

1983–1987: Studied Aeronautics & Astronautics and Science, Technology & Society at Massachusetts Institute of Technology (MIT).
1989: Co-founded MicroStrategy (Strategy).
1998: MicroStrategy IPO – Took MicroStrategy public on the NASDAQ at $12 per share.
2000: Accounting Scandal & Crash – MicroStrategy's stock plunged 62% in a day due to an accounting misstatement, wiping out billions in valuation.
2004–2019: MicroStrategy Rebuilds – Worked towards cloud-based analytics and AI-driven business intelligence, regaining stability.
2020: Bitcoin Strategy & Investment – Led MicroStrategy’s $425M Bitcoin investment. He made it the first publicly traded company to adopt Bitcoin.
2021: Bitcoin Evangelism – Became one of Bitcoin’s most vocal advocates, encouraging corporations and institutions to adopt BTC and blockchain.
2022: Stepped Down as CEO – Transitioned to Executive Chairman to focus entirely on Bitcoin strategy.

 
With a major focus on blockchain network growth, Saylor is considered one of the architects in shaping the growth of decentralized finance.
 
Useful Links to connect with Michael Saylor
 

Platform

Link to connect

Twitter (X)

Michael Saylor

MicroStrategy (Strategy) Official Website

MicroStrategy

Michael Saylor’s YouTube Channel

https://www.youtube.com/c/MichaelSaylor

Hope.com (Bitcoin Education by Saylor)

Bitcoin is Hope

 
 
msaylor@microstrategy.com

EntrepreneurCrypto and Blockchain ExpertAuthor

about his $1 billion worth of Bitcoin personal investment created headlines. This move has reignited discussions around Bitcoin holdings, particularly those of public companies. MicroStrategy’s obsession with Bitcoin is well-known, having steadily increased its holdings since 2019.

In this article, we will explore all the major data sets compatible to explain the current Bitcoin Holding scenario in the world. This will primarily focus on the top public companies by bitcoin holdings. Naturally, MicroStrategy is going to be the central point of this, as it is a company that holds nearly 68.45% of the total bitcoins held by the public companies category. This is expected to be a memorable journey. Please join!    

Bitcoin Holdings by Category: Who Holds What?

Let’s start by breaking down the Bitcoin holdings by different categories. Of the 21 million Bitcoins, the maximum supply cap, approximately 2,609,343 BTC is held by ETFs, countries, public companies, private companies, BTC mining companies, and DeFi platforms.

The category of ETFs holds over 1,057,839BTC, which is nearly 5.037% of the maximum supply cap of BTC. Thus, this category tops the list in terms of Bitcoin Holdings by Category. The category of countries follows with 2.58% (539,182BTC), and the category of private companies sits in the third position in the list above the category of private companies, with 2.502% (525,474BTC. The category of public companies only holds 330,862BTC, which is just 1.576%. DeFis and BTC Mining Companies show as low as 0.743% and 0.256% Bitcoin Holdings, respectively. 

By now, we have learned that the category of public companies do hold a considerable amount of BTC, though not as much as the top three categories like ETFs, countries and private companies. 

Top Public Companies by Bitcoin Holdings 

Here is the interesting part. Nearly 68.45% of the total bitcoins held by the category of public companies is held by MicroStrategy, which is at least 226,500BTC out of 330,862BTC. This is why we need to analyse MicoStrategy separately.  

When the category of public companies holds around 1.576% of the total BTC supply cap, Microstrategy alone holds at least 1.079%. The second top in the list of the top public companies by bitcoin holdings, Marathon Digital Holdings Inc. only has 20,818BTC (0.099%). Tesla Inc, Hut 8 Corp and Riot Platforms Inc are the other top companies on the list. Tesla Inc and Hust 8 Corp show 9,720BTC and 9,109BTC respectively, and Riot Platforms Inc display 9,084BTC. Coinbase Global Inc and Galaxy Digital Holdings are also on the list with 0.043% and 0.039% Bitcoin Holdings percentages respectively. The BTC Holdings percentages of other major players like Block Inc., CleanSpark Inc. and Bitcoin Group range between 0.038% and 0.018%. 

As said earlier, MicroStrategy clearly dominates the category of public companies with 68.45%, that is this public company holds nearly 226,500BTC out of 330,862BTC (which is what the entire category holds). Marathon Digital Holdings Inc, though is the second topmost in the list, only has a 6.29% share in the category of total BTC holdings. Even poorer is the share of Tesla INC and the others. None of the others in the top ten list cross the mark of 3%. Tesla Inc. and Hunt 8 Corp show 2.93% and 2.75% respectively.  

The Rise of MicroStrategy’s Bitcoin Holdings

Are you wondering how MicroStrategy has become such a big player in the public companies category in terms of bitcoin holdings? Let’s understand the path through which it has reached such a staggering peak of 226,500. On March 5th, 2021, the Bitcoin holdings of MicroStrategy were just 91,064BTC. In June the same year, it crossed the mark of 100,000BTC. On June 21st, 2021, it was nearly 105,085 BC. By the end of that year, it reached 124,051 BC. In 2022, the growth was slow. On December 24, 2022, it was just around 132,500 BTC.

The year 2023 was different and positive in every way for MicroStrategy’s Bitcoin Holdings. The number of BTC holdings grew from nearly 138,955BTC (on March 23, 2023) to 189,150BTC (on December 27, 2023). In 2024, it crossed another milestone, when it surpassed the mark of 200,000BTC in March. On March 11, 2024, it touched 205,000BTC. From that point, the growth was steady. On June 20, 2024, it recorded 226,331BTC. Now it stands at a peak of 226,500BTC. At present, we see nothing to assume that this range is likely to decrease any time in the near future. There are many who expect the crossing of the 300,000BTC mark by MicoStrategy. Is it possible? 

The question can be answered better if we can go through MicroStrategy’s BTC purchase history. Did MicoStrategy make any significant BTC purchases in the recent past? 

MicroStrategy Bitcoin Purchase History 

Let’s do an analysis of MicroStrategy’s purchase history, and understand what it conveys about the company’s holding strategy. 

It was on 11th August 2020 that MicroStrategy made its first Bitcoin purchase. On that day, it made a heavy purchase of 21,454. In that year itself, it made at least two more heavy purchases: the 16,796BTC purchase on 14th Sep and the 29,646BTC purchase on 21st Dec, 2020. What it indicated was that from the beginning stage itself, the public company had a strategy to consistently boost its BTC holdings. 

This year, 2024, so far, the company has purchased around 37,359 BTC. The highest purchase was made on 11th March. Days before, the BTC price touched an all-time peak of $73,000. Another purchase of similar intensity was made a couple of days after the peak day. On 19th March, nearly 9,245 BTC was purchased. Recently, on 20th June, around 11,931 BTC were purchased. 

It was in the year 2020 that the most number of BTC purchases occurred. In that year, over 70,470 BTC purchases took place. The year 2022 was not a good year in terms of MicoStrategy’s BTC Purchases. In that year, the company made no purchase of more than 8,813 BTC. It was the only time a negative purchase happened. On 22nd December 2022, a negative purchase of -704 was reported. 

The year of 2021 and 2023 were identical. In both these years, not less than 50,000 BTC were purchased. Interestingly, the nature of purchase in each year was different. In 2021, it was a mix of small and large purchases. The smallest of those purchases was the purchase of 205 BTC, reported on 5th March 2021, and the largest was the purchase of 19,452 BTC, reported on 24th Feb, 2021. In 2023, at least three big purchases were reported: the 14,620 BTC purchase on 27th Dec, the 16,130 BTC purchase on 30th Nov, and the 12,333 BTC purchase between 29th April and 27th June. 

Top Private Companies by Bitcoin Holdings 

Before going to the conclusion part, we can go through the nature of the BTC holdings of the private companies category and understand how it is different from the public companies category.  

Here, we can clearly see that unlike the public companies category, there is no domination of the top player. The difference between the number of Bitcoins held by the topmost in the list of the top private companies Bitcoin Holding and the second topmost is just 60,000 BTC. Mt.Gox, the topmost company in the list, holds around 200,000 BTC, and Block.one , the runner-up in the list, has 140,000 BTC. Tether Holdings LTD, Xapo Bank and BitMEX are the other important companies on the list. Tether Holdings LTD has around 75,354 BTC, and Xapo Bank and BitMEX have 38,931 BTC and 36,794 BTC, respectively.     

Endnote 

MicroStrategy’s aggressive Bitcoin acquisition strategy has positioned it as a key player in the public companies category. Despite a slight slowdown in 2022, the company regained momentum in 2023, with several high-volume purchases. As we move further into 2024, it’s worth watching whether MicroStrategy will surpass its 2020 record for Bitcoin acquisitions and what impact this will have on the broader market.

Also Read: Case Studies of Countries with Significant Crypto Adoption

The post Case Studies of Countries with Significant Crypto Adoption appeared first on Coinpedia Fintech News

Crypto is the new trend in the global economy. It has created several impressive headlines in the recent past, as some of the economic powers have changed its attitude towards the sector. Notably, the global crypto adoption has significantly increased in the recent past. Some countries like El Salvador have implemented certain bold policies, encouraging others to change their stand towards cryptos. Here our attempt is to explore the crypto scenario in those countries which have performed better in the crypto adoption analysis. 

Some of the facts this report shares may leave you stunned. And, certain ones may disappoint you. But this mix of contradictions make this report an exceptional one. Don’t miss it. 

Top Countries by Crypto Adoption Percentage  

The United Arab Emirates, Vietnam and the United States are the top three countries in terms of percentage of population who own crypto. 

In the United Arab Emirates, nearly three million people own crypto, which is at least 30.4% of its population. Though the United States has 53 million crypto owners, it could not get the top post and remains in the third position, as only 15.6% of its population are crypto owners. Vietnam, which remains in the second spot, has around 21 million crypto owners. In this Asian country, at least 21.2% of its population are crypto owners. Iran and Philippines, with 13.5% and 13.4%, stay in the 4th and 5th positions.

Notably, Brazil has over 26 million crypto owners, but only 12% of its population own cryptocurrencies. Saudi Arabia, with 11.4%, and Singapore, with 11.1%, are notable members.     

Top Countries by Number of Crypto Owners 

If we only consider the number of crypto owners, things will change slightly. In this list, we have India and China as the top two players. The USA, though has a significant number of crypto owners, is still in the third position. Why? 

India has over 93.5 million crypto owners, and China has over 59.1 million. The said fact is impressive, but it does not make these countries prominent players. The reason is simple. Only 6.55% of the Indian population owns cryptocurrencies, and in China, the scenario is even worse. The Chinese crypto community enjoying the benefits of crypto ownership is just 4.15% of its total population. Certainly, the USA and Brazil, with 15.6% and 12%, deserve to be considered as top players.

Other prominent countries in the list are Vietnam (21M), Pakistan (15.9M), Philippines (16M), Nigeria (13.3M), Indonesia (12.2M), and Russia (8.7M). Among these, Vietnam and Philippines are significant, as the former’s crypto ownership percentage against its population is as high as 21.2%, and the latter’s is over 13.4%.   

Crypto Adoption by Region 

Let’s make the analysis a little more interesting. How about entering a little bit deeper and doing a regional-focused analysis? Sounds great, right? 

For our convenience, we can divide our geography into three segments: the Europe, Middle East and Africa segment, the Amercians segment and the Asia-Pacific segment.   

Crypto Adoption in Europe, Middle East and Africa 

Like what the name suggests, the Europe, Middle East and Africa segment covers the countries in the Europe, Middle East and Africa region.  

Generally, people expect that a European country would be a dominant player in the list. To an extent, the expectation is right. But in terms of the number of crypto owners index, none of the European countries match the performance of Nigeria, in which nearly 13.3 million people are crypto owners. Russia, a European superpower, with 8.7M crypto owners, stays in the second position. Ukraine and the UK have 3.9M and 3.9M crypto owners respectively. In the list, Ukraine does have an upperhand, as at least 10.57% of its population are crypto owners. In Nigeria, only 5.93% of its population are crypto-owners, and in Russia and the UK, the values are just 6.1% and 5.74% respectively. 

Crypto Adoption in the Americas 

There are some surprises in the American segment also. As you know, this segment primarily covers the USA, Canada and Latin America. There is a rumour that the entire crypto industry revolves around this region. Is there any truth to that? Let’s see!

The USA is the leading player in the region in the crypto adoption landscape, undoubtedly. Otherwise, it would not have such a large number of crypto users. It has over 26 million crypto users – the US crypto community makes at least 15.6% of the country’s total population. Does it sound impressive? But when we consider the adoption rate in other prominent players in the region, it sounds doubtful whether these values are high enough to be considered as a country with the best crypto adoption environment.

Even Brazil has over 26 million crypto users. In that Latin American country, at least 12 percent of its total population own cryptocurrencies. The case is similar in Mexico, where there are over 8.4 million crypto owners – roughly 6.55% of the population. Even Argentina has over 4.45 million crypto owners. Contrary to the general expectation, Canada is very weak in terms of crypto adoption. It only has 2.7 million crypto owners – approximately under seven percent of the country’s total population.   

Crypto Adoption in Asia-Pacific 

The analysis of the crypto adoption scenario in the Asian-Pacific segment can definitely leave most non-Asians perplexed – particularly those in the developed west. Why? Just go through the below given numbers. Isn’t it enough to ring the bell?   

No longer can anyone deny the dominant role that the Asia Pacific region plays in the crypto sector.  India and China alone have over 1526M crypto owners. In Vietnam, at least 21.2% of its population are crypto owners, and in the Philippines, more than 13.4% of its population are crypto owners. Even in Bangladesh and Pakistan – which are currently struggling due to political unrest and economic uncertainties, there are over 4.3 million and 15.9 million crypto owners respectively. Japan is a crucial player, with 6.9 million crypto owners. Thailand, known for its flourishing tourism sector, even has 6.9 million crypto users.  

‘Is the Asia-Pacific adopting cryptos much faster than other two regions’ is a question that can create a lot of headlines in the coming days. With Hong Kong and Singapore, the two prominent financial hubs in the region, eagerly revamping its financial environment to embrace the new possibilities after the advent of the crypto and blockchain technology, the said question is less likely to sound this much indigestible in the future.   

Countries with Cryptocurrency as a Legal Tender 

Do you know that certain countries have recently accepted cryptocurrencies as legal tender? 

El Salvador is the first country to accept cryptos as legal tender. The Central African Republic is the second. In El Salvador, the policy to accept crypto as legal tender was adopted on 9th June 2021. Approximately a year later, on 23rd April, 2022, the Central African Republic joined the league, boldly.   

It is said that many counties particularly in the Africa and Latin America region have such a plan. 

Crypto Adoption Index Score 

Let’s approach the crypto adoption scenario from a different angle. The data set developed by Henley & Partners is an easy way to do so. This data set allows us to approach the crypto adoption scenario using some interesting parameters like public adoption and infrastructure adoption. 

At first, we can consider the two prime parameters, public adoption, and infrastructure adoption, and see which country will come at the top in the list when these three are considered together. And later, we can take each parameter individually and see how the scenario changes. Ready? 

When we consider these two parameters together, the UK gets the maximum score of 23.2. Australia and Singapore follow with 23 and 22.6 scores.

USA is in the fourth position with 22.6 score. Switzerland and UAE follow with 21.8 and 21.7 respectively. Hong Kong, Canada, Turkey and Malta are the other prominent players. Hong Kong scores 20.8. Canada, Turkey and Malta show 19.7, 18.5 and 17, respectively. 

Crypto Adoption Score By Public Adoption 

Time to consider each parameter individually. First, we can consider the parameter of public adoption. 

Singapore and UAE dominate with the same score of 7.1. USA follows with a score of 6.3. The UK and Australia report 5.5 and 5.1 respectively, and Canada and Mauritius record 5.1 and 4.7 respectively. Hong Kong and Switzerland are other two important players. The former has a score of 4.6 and the latter has a score of 3.9. Malta, with 3.6 score, also enjoys a place in the list.      

Crypto Adoption Score By Infrastructure Adoption 

Let’s consider the parameter of infrastructure adoption. As expected, the US is the country which enjoys the top position in the list. 

The US shows a score of 9.6. Canada, Switzerland, and Australia closely follow with 9.3, 9.2 and 9.1, respectively. The UK, Hong Kong, Thailand, Monaco, Greece and New Zealand are the other countries who sit in this list. The UK has a score of 7.7, and New Zealand 7.4. The four remaining ones have the same score of 7.5. 

Countries with the Best Regulatory and Tax Environment for Cryptos 

One of the prime factors that influence a country’s crypto adoption is its regulatory and tax environment. In the Henly & Partners’ data set, there are provisions to generate a score considering the parameters of crypto regulation and tax environment. 

The below is the list of these countries which score the highest when the said parameters are considered. 

Singapore naturally remains in the top most position with 18.5, reflecting how dedicated is the Asian region in developing their environment to embrace the emerging digital finance possibilities. 

Switzerland and Antigua and Barbuda are the countries that follow Singapore. Switzerland shows 16.5, and Antigua and Barbuda displays 15.8. Another Asian financial centre, Hong Kong, with 15.7, enjoys the fourth position in the list. UAE and Mauritius score 15.6 and 15.4 respectively. Netherlands, Malaysia, Malta and Monaco are the other prominent players. Their scores range from 14.7 to 14.4.  

Top Countries with the Best Economic Factors for Crypto Adoption 

Is creating a crypto friendly regulatory and tax environment enough to improve the crypto adoption scenario of a country? In most cases, it is inadequate. The fact is that in the absence of a right economic environment, any effect to revamp a country’s regulatory scenario would be counter productive. 

As per the Henley & Partners data set, here are the top countries with the best economic factors suitable for the flourishing of the crypto adoption environment.  

The list is dominated by two powerful financial hubs from the Asia-Pacific region. You may have already guessed it. Yes, Hong Kong, with 9.1, and Singapore, with 8.9, are the two countries which sit in the top most positions in the list.  

Switzerland, with 8.6, and UAE, with 8.4, remain in the third and fourth positions, respectively. New Zealand, Luxembourg, the USA, the Netherlands, Thailand and Canada are the other prominent countries in the list. New Zealand and Luxembourg and the USA have 8.4, 8.3 and 8.2 scores respectively. All the three remaining ones. the Netherlands, Thailand and Canada display the same score of 8.1. 

Endnote 

In conclusion, what is clear from the data collected is that the Asia-Pacific region currently leads the world in crypto adoption, with countries like Singapore and Hong Kong poised to become global hubs for the crypto economy. As these nations continue to innovate and set new standards, they are likely to shape the future of digital finance and serve as a model for others to follow. It does not mean that the other regions perform poorly in crypto adoption. It is important to watch the developments in certain important crypto economies like the USA, India, China, Thailand, the Philippines, El Salvador, the Central Asian Republic, Brazil and even Bangladesh and Pakistan. One thing is clear that this crypto revolution is set to continue, and is likely to transform the lives of millions in near future.  

The post Trump’s $35 Trillion Debt Plan: Analysing The Impact on Cryptos appeared first on Coinpedia Fintech News

Recently, Donald Trump proposed an audacious idea: using Bitcoin to address the United States’ staggering national debt. This suggestion has ignited intense debate, particularly within the cryptocurrency community. Can Bitcoin truly be a remedy for the national debt? What would this mean for the crypto industry, and how might Bitcoin’s price be affected? Let’s explore these questions in detail!

Understanding the US Debt Crisis

As per the official data published by the US government, the national debt of the United States, or the amount of outstanding borrowing the government accumulated over the nation’s history, is nearly $35.05 trillion, as of 6th August, 2024.

Here’s a snapshot of the national debt’s growth over the past century:

In 1923, almost 100 years ago, the US national debt was just $403 B. Between 1923 and 1943, the growth of the depth was comparatively slower. In 1943, the debt was a little more than $2.40 T. In 1963 and 1983, the values were $3.07 T and $4.20T. Between 1943 and 1983, the depth growth was majorly stagnant. Post 1983, it was a period of sharp rise. In 2003, the debt reached as high as $11.24 T. In 2013, it nearly doubled to $21.93 T. In 2023, it reached a shocking high of $33.17 T. Now, it stands at $35.05 trillion.

What reveals a country’s ability to pay down the country’s debt to its GDP ratio. Shocking is the US’ debt to its GDP ratio. It now stands far above one hundred per cent. In fact, it surpassed the mark of 100% as early as 2013 itself. In 2023, it was 123%. 

Here is the US’ debt-to-GDP ratio:

In 1948, the ratio was around 96%. But it fell to 58% in 1958, and further to 32% in 1974. In 1996, it reached 66%. Later, in 2001, it cooled down to 55%. Later, it saw a sharp rise. In 2020, it touched a peak of 127%. In 2023, it slightly came down to 123%. 

The data indicates that the biggest crisis the United States and its people now face is its growing debt and the weakening debt-to-GDP ratio.

Trump’s Bitcoin Debt Solution Plan Explained 

Trump’s Bitcoin debt solution revolves around using Bitcoin and cryptos to manage the US debt. In a recent interview, he proposed that Bitcoin could be used strategically to address the growing financial burden. Making Bitcoin a strategic reserve was a major part of his plan.

BTC Holdings Owned by Governments 

The United States government at present owns nearly 207,189 bitcoins, which is 0.98% of the total holdings. The current value of its entire holdings is $10,458,345,453.   

As per a data set published in bitcointreasuries.com, here are the top governments by BTC Holdings.  

China is the country that holds the highest number of BTCs after the USA. It owns nearly 194,000 BTC (0.92%), valued at $9,792,600,080. The UK, Ukraine and Germany are also top players with 61,000, 46,351, and 22,846 BTCs respectively. 

The Feasibility of Trump’s Plan 

The current price of Bitcoin is $55,645.47 and its market cap is $1,095,191,354,069. For Trump’s plan to work, each Bitcoin would need to be worth $180 million. Critics argue that expecting BTC to reach such an astronomical value is unrealistic. 

Peter Schiff, a financial expert, opines that Trump’s proposal is unrealistic. He claims that the idea of Bictoin reaching such high values without causing inflation is logically inconsistent.  

Bitcoin Annual Price Change Analysis 

This analysis shows how Bitcoin’s value fluctuates each year. It is capable of providing insights into growth trends.

In 2023, the annual price change of Bitcoin was +155.4%. In 2013, 2011 and 2017, Bitcoin witnessed massive changes of +4,435%, +1,435% and +1.369%. Since 2011, only three times that Bitcoin witnessed a negative yearly price change. In 2018, 2022 and 2014, it marked negative changes of -73.3%, -64.3% and -57.6%. This year the value stands at around +32.3%. 

Potential Impact on the Crypto Industry 

If Trump’s plan were to gain traction, it could have significant impacts on the crypto industry. Increased government involvement in Bitcoin could lead to more regulations. But, it could also boost confidence in Bitcoin.

BTC Historical Price Change Analysis 

In the last 24 hours, Bitcoin has seen a rise of 5.0% ($2,134 change). Year to Date, the change is +30.3%, which is $12,799. In the last six months, a change of +27.6%, which is around $11,907, has been recorded. In the Q1 of 2024, the BTC provided a return of +68.7%. But, the last quarter, that is the Q2 of 2024, was a period of great volatility. The period ended with an unimpressive return of -12%. In April and June, BTC saw negative returns of -14.7% and -7.02%. In May, it witnessed a positive return of +11.1%. In the second quarter’s closing price was just $62,743, far less than the first quarter’s price of $71,262. In the last three months, a negative return of -11.8% was recorded, and in the last 30 days, a return of -4.27% was reported. 

At present, the price of BTC stands at around $55,124. In the beginning of the month, the price was around $65,246. On 2nd, 4th and 5th August, the Bitcoin market witnessed long red candlesticks. Between 1st and 6th August 2024, a steep drop in price occurred in the market. The trend we are witnessing now in the market is in stark contrast to the one we saw last month, when the price experienced an upward momentum between 8th July and 28th July. Actually, it was in late July, especially on 29th July, that this new selling pressure stepped in. Between 29 July and 5th Aug, we see only one green candle.     

Endnote 

Trump’s proposal to use Bitcoin to tackle the $35 trillion US debt is undeniably bold. While it highlights the increasing interest in cryptocurrencies as potential strategic assets, it also raises questions about feasibility and market impact.

By examining inflation data, government Bitcoin holdings, historical price trends, and recent changes, we gain a clearer understanding of the potential and challenges of this idea. Whether Trump’s plan benefits the crypto industry remains uncertain, but it undoubtedly fuels crucial discussions about the future of cryptocurrency and its role in the global economy.

Also Check Out: Bitcoin and Ethereum Q2 Price Movement Analysis Report  

As the debate heats up, one thing is clear: Trump’s Bitcoin proposal could either revolutionize how we think about national debt or simply add more fuel to the crypto fire. Stay tuned to see where this bold idea will lead!