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Crypto hub: Michael Saylor’s bold call for Microsoft to embrace Bitcoin
Bitcoin is around $100,000 as the crypto market rallies, with Ripple’s XRP surging over 361%, while Michael Saylor urges Microsoft to adopt Bitcoin as a transformative asset.
Bitcoin is around the $100,000 milestone amid strong market momentum.
Ripple’s XRP gains 361.5% in a month, driven by whale accumulation.
Michael Saylor urges Microsoft to adopt Bitcoin for long-term growth.
The cryptocurrency market continues its upward trajectory, with Bitcoin (BTC) leading the charge. The total market capitalization has surpassed the GDP of major economies like Great Britain and France. This week alone, spot BTC ETFs saw a staggering $2.7 billion in purchases.
Ripple's XRP has been particularly bullish, with a 361.5% increase in price over the past month. Whales have been taking advantage of recent dips, accumulating millions of XRP tokens.
Bitcoin traded near its all-time high of $100,000 ahead of a critical week featuring central bank meetings and US inflation data, which could pave the way for lower borrowing costs and further policy easing. However, BTC slipped 1% in early trading, with Altcoins also declining.
BTC has been managing surprisingly well to hold on to its bull run, gaining over $26,000 in November - its biggest monthly gain of late. Now, as a result, several altcoins such as Solana and Ripple are also reaping benefits as investors are warming up to more tokens in the market. While the $100k mark is tested before, it can be expected that the so-called ‘Trump Bump’ could continue until Donald Trump takes oath as the US President in January 2025.
Bitcoin's surge toward the $100,000 mark has been accompanied by substantial sell-offs from long-term holders, raising concerns among analysts about a possible market peak. Some warn this trend could lead to a bearish reversal if buying momentum begins to fade, leaving traders unprepared for a downturn. Factors pushing Bitcoin to new heights included President-elect Donald Trump nominating pro-crypto Paul Atkins as the next US SEC chair.
Recent data reveals that since November 8, wallets holding Bitcoin for over 155 days have offloaded approximately 827,783 BTC. At Bitcoin's current price of $99,200, these sales translate to a staggering $82.6 billion in value.
Michael Saylor pressures Microsoft to bet on Bitcoin
The CEO of MicroStrategy has told Microsoft that Bitcoin is the best asset a company should own, claiming it represents the “greatest digital transformation of the 21st century.”
In a three-minute video on X , Saylor tagged Satya Nadella, Microsoft’s chair and CEO, and its board of directors, saying:
“Microsoft can’t afford to miss the next technology wave, and Bitcoin is the next wave. Bitcoin represents the greatest digital transformation of the 21st century; it represents digital capital.”
Saylor added that if Microsoft wants to outperform, it’s going to “need Bitcoin,” adding:
“You’ve surrendered hundreds of billions of dollars of capital over the past five years, and you’ve just amplified the risks that your own shareholders face. If you want to escape that vicious cycle, you’re going to need an asset without counterparty risk.”
