Bitcoin has finally hit the $50,000 mark and has smashed a new all-time high today. We are now getting very close to hitting significant Bitcoin landmarks at the one trillion dollar market capitalization.
Bitcoin topped at $50,350 today, but it has gone down to $49,500, trying to go back up. The good thing about all-time highs is that whoever has bought Bitcoin is now in profit. Bitcoin only needs to double at this point to hit $100,000;
people still doubt that a $100,000 Bitcoin will happen. Bitcoin getting to $100,000 is only a matter of "when" it will happen and not "if." Every major milestone we pass makes Bitcoin a more genuine asset to the big money institutions with zero exposure to Bitcoin.
We are also getting close to slamming another insane landmark for Bitcoin, the one trillion dollar market capitalization. We have a few more thousand dollars per coin to go before we hit this incredible milestone. Bitcoin needs to be around $54,000 to pass a one trillion dollar market capitalization.
Bitcoin has hit $50,000, and we are just in mid-February; indeed, there is more in store for us this year.
The price action now is similar to how we tried breaking the previous all-time highs at $20,000 back in December. It took a few tries before we could make a decisive breakout through that level, and when we finally did, Bitcoin went crazy.
Microstrategy is going to be buying another 600 million dollars worth of Bitcoin. They will be making a 600 million dollar sale of convertible senior notes for Microstrategy, and the proceeds of that sale will be used to buy Bitcoin.
If they move fast enough, the level of conviction for Microstrategy is bordering on insanity. Michael Saylor is a pioneer when it comes to leading the charge for corporate Bitcoin investment. He is leading the charge for the world six hundred and thirty thousand publicly traded companies, and most of them have little to no exposure to Bitcoin.
Only a dozen publicly traded companies globally have bought Bitcoin. A new Bitcoin ETF application has been submitted in the USA and this may finally be the only one that gets regulatory approval. The New York Digital Investment Group has filed for a Bitcoin ETF, and Morgan Stanley supports them. Canada has approved a second ETF for Canadian markets.
