Bitcoin to Mars? Michael Saylor Fuels Bullish Hype for BTC
MicroStrategy (MSTR) CEO and Chairman Michael Saylor caused a stir in the cryptocurrency industry with a cryptic post on X (formerly Twitter). “We’re going to Mars,” he said in a recent post.
Michael Saylor’s mysterious post on X
this postal With over 500,000 followers on X, they took this as a bullish sign for Bitcoin (BTC). However, the article was published before pro-cryptocurrency Senator Cynthia Lummis became chair of the Senate Digital Asset Banking Subcommittee, which partially confirmed the Bitcoin reserve.
Political Developments and Bitcoin Adoption
However, he later made another post, sharing a video of pro-crypto Donald Trump, in which Trump stated that the United States would become the cryptocurrency capital of the world.
Looking at these latest updates and powerful words from industry giants, it looks like Bitcoin will surge higher soon. However, it currently appears to be in trouble.
Thaler isn’t the only one bullish on Bitcoin. Previously, on January 22, 2024, Larry FinkThe CEO of asset management giant BlackRock said in an interview that BTC may reach US$500,000, US$600,000, or even US$700,000 in the future. In addition to these individuals from large companies, countries around the world currently appear to be showing interest in Bitcoin reserves.
$419 million in Bitcoin (BTC) outflows
This bullish outlook has begun to attract investors and long-term holders, reports on-chain analytics firm Coinglass. Spot inflow/outflow data shows that the exchange witnessed a significant outflow of $419.5 million worth of BTC in the past 48 hours.
Such large outflows from exchanges indicate potential accumulation, which could create buying pressure and drive further upward momentum.
Bitcoin is currently trading near $105,260, having gained more than 1.5% in the past 24 hours. During the same period, its trading volume surged by 50%, indicating strong and higher participation from investors and traders.
