Bitcoin once again surprised the market by setting a new all-time high exceeding $123,000. Leading experts in the cryptocurrency industry shared their opinions on the reasons for the rise and the significance of current events.
Samson Mow's Insights on the Bitcoin Bull Market
Samson Mow, CEO of JAN3 and a vocal advocate for Bitcoin, emphasized the importance of the current bull market on his X profile. He compared the real inflation rate of 11% to Bitcoin's all-time high from November 2021, which was $68,789, noting that this equates to an inflation-adjusted high of $100,000. Bitcoin reached a new record of $112,000, beating inflation by 19%, and then extended to $123,091.61.
Strategy's Bitcoin Acquisition
The treasury company Strategy, led by Michael Saylor, announced the acquisition of 4,225 Bitcoin for $472.5 million. This purchase has boosted the total Bitcoin held by the company to over 600,000 BTC, currently valued at more than $70 billion. Strategy financed the acquisition through selling ordinary MSTR stocks as well as convertible Bitcoin-backed stocks.
Pierre Rochard on Bitcoin Price Correction
Pierre Rochard, CEO of The Bitcoin Bond Company, commented on the price correction Bitcoin experienced after reaching a new all-time high above $113,000. He believes this correction is healthy as it slows leverage, resets funding rates and implied volatility, providing a sturdier foundation for the next leg of the bull market.
Current events in the cryptocurrency industry, such as new Bitcoin records and significant purchases, highlight market activity. Experts' opinions indicate the importance of both growth and corrections in forming a stable and healthy future for Bitcoin.
