Bitcoin Investment Reaps Rewards for MicroStrategy

Since Aug. 10, 2020, the day MicroStrategy plunged headfirst into Bitcoin investment, the cryptocurrency market has transformed significantly. Michael Saylor, MicroStrategy’s Founder and Chairman, recently unveiled a performance chart showing Bitcoin’s solid performance. Amid a surge in endorsements from significant corporations and government institutions this year, Bitcoin’s stability seems assured as it trades at around $30,000.

Saylor, a Bitcoin evangelist, has urged the world to “Consider a #Bitcoin standard.” This proposition gains relevance with the ongoing institutional acceptance of Bitcoin, indicating that its trading value will likely not dip below the current levels, even as altcoins like XRP prepare for a potential uptick following the SEC ruling.

Consider a #Bitcoin Standard. pic.twitter.com/irSBJEWL7o

— Michael Saylor⚡️ (@saylor) July 15, 2023

The chart, released July 14, 2023, reveals a 151% upswing in Bitcoin value and a 271% rise for MicroStrategy, even as traditional assets like gold, silver, and bonds have depreciated since the company adopted its bitcoin strategy.

Federal Reserve Unveils FedNow to Counter Rising Crypto Demand

In response to the escalating demand for digital assets and interest from institutional investors, the U.S. Federal Reserve has rolled out FedNow, a real-time payment service. Over 35 banks have enlisted for FedNow services, with thousands more projected to join soon.

“Over time, as more banks choose to use this new tool, the benefits to individuals and businesses will include enabling a person to immediately receive a paycheck, or a company to instantly access funds when an invoice is paid,” said Fed Chair Jerome Powell.

Bitcoin Showcases Robust Performance Amid ETF Filings

The Bitcoin market has stood firm against many global assets, bolstered by heightened institutional investor interest. In recent weeks, fund managers from prominent companies such as BlackRock Inc. and Valkyrie have submitted Bitcoin ETF applications. The SEC will soon decide whether to approve, reject, or defer one such application filed by Cathie Wood’s Ark Invest.

Bitcoin’s market capitalization stands at about $580 billion, while gold’s market cap looms at nearly $11 trillion. As Bitcoin garners further institutional acceptance, it remains an integral part of the global investment industry.

In a noteworthy development, U.S. presidential candidate Robert F. Kennedy, Jr. has pledged to back the greenback with Bitcoin if he is elected next year, promising that the digital dollar will not happen under his potential administration.