MicroStrategy's Michael Saylor says bitcoin is 'cyber Manhattan' — a 'good investment' even at the top
Publishing timestamp: 2024-12-16 13:54:56
Summary
Michael Saylor compared bitcoin to New York City's economy, calling it "cyber Manhattan" as cryptocurrency rose to fresh records. MicroStrategy, which has been adding bitcoin to its balance sheet since 2020, is set to be included in Nasdaq-100 on Dec. 23. Saylor announced the company has purchased more bitcoin, bringing its total holdings to 439,000 BTC. Despite criticism, Saylor defends the strategy as similar to real estate development in Manhattan. Bitcoin rose to an all-time high, and there are predictions of it doubling to $200,000 by the end of 2025.
Sentiment: POSITIVE
Tickers: .NDX, MSTR, QQQ, BTC.CM=,
Keywords: bitcoin/usd coin metrics, investment strategy, breaking news: markets, microstrategy inc, markets, technology, business news, breaking news: investing, cryptocurrency, bitcoin, nasdaq 100 index, powershares qqq trust,
Source: https://www.cnbc.com/2024/12/16/microstrategys-michael-saylor-says-bitcoin-is-cyber-manhattan.html