Michael Saylor, CEO of MicroStrategy Inc. (NASDAQ:MSTR), deemed the Donald Trump-led Republican triumph the “biggest” bullish catalyst for Bitcoin (CRYPTO: BTC) over the last four years.
What Happened: In an interview with CNBC on Thursday, Saylor said that the “red wave” has been “incredibly auspicious” for Bitcoin and the broader cryptocurrency industry.
The Bitcoin bull anticipated a friendlier SEC at the helm amid speculations of current chair Gary Gensler stepping aside.
“It’s very good for the cryptocurrency industry. We’re going to see a lot more pro-Bitcoin policies. We are going to see a digital assets framework. We are going to see an end to the war on crypto.,” Saylor predicted.
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With the election uncertainty behind, Saylor also ruled out any major bearish events for Bitcoin in the foreseeable future.
“I am planning the $100,000 party, and I am thinking it is probably going to be New Year’s Eve at my house. So, I would be surprised if we don’t go through $100,000 in November or December,” Saylor said in a burst of enthusiasm.
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Why It Matters: Saylor’s bullish sentiment aligned with the ongoing success of his company’s publicly-traded stock.
MicroStrategy’s shares hit a record high earlier this week, pushing the firm’s market valuation to $72.26 billion, a $50 billion increase since September 6. This gain surpassed the total capitalization of Ford Motor Co. (F) and Cognizant Technology Solutions Corp. (NASDAQ:CTSH).
The firm, known famously as Bitcoin’s biggest corporate holder, was sitting on unrealized profits of over $12.7 billion as of this writing, according to data from bitcointreasuries.net.
