After peaking on Christmas Day, Bitcoin's (BTC-USD, Financial) post-Christmas surge stumbled on Thursday, with values falling below $95,500. Other cryptocurrencies including Ethereum also suffered.With a forecasted 115% increase for the year, Bitcoin is still positioned for a great year-end performance despite this little setback. To support more Bitcoin purchases, well-known Bitcoin investor MicroStrategy (MSTR, Financial) revealed intentions to raise its share count, augmenting the optimistic sentiment surrounding the investment.
Reflecting its aggressive $42 billion investing plan, MicroStrategy has steadily added to its Bitcoin holdings for seven straight weeks. This dedication has driven MicroStrategy's stock price to rise astonishingly 440% this year. The constant backing of Bitcoin by CEO Michael Saylor has confirmed his status as a major player in the rising broader acceptance of the cryptocurrency. As we look ahead, the Bitcoin dynamic will play a critical role in driving the success of the overall business, potentially offering tremendous long-term upside ahead.
