U.Today – Chinese crypto journalist and blogger Colin Wu spreads the word about the positive Bitcoin-related changes currently happening in Thailand.
Moreover, the country's former price minister, Thaksin Shinawatra, has made extremely bullish price predictions.
Shinawatra believes Bitcoin will reach $850,000
Colin Wu shared a link to an article about Thaksin Shinawatra, who is not only Thailand's former prime minister, but whose son now holds the position. According to Wu's tweet, Shinawatra said his friends expect Bitcoin to rise to $850,000 in the future.
He also believes in increasing awareness of Bitcoin among the public. Therefore, an order has been issued to set up a sandbox that will allow BTC to be used for payments in Phuket.
This initiative emerged in response to the results of the recent US presidential election and the expected shift in domestic crypto policy in the near future. Some Thai politicians believe that the United States may use Bitcoin to repay the national debt, or part of it, to creditors.
Additionally, Thailand may begin deep exploration and research into stablecoins. The goal is to see if issuing coins backed by government bonds can invest money in the economy without printing more money. If this happens, President Thaksin Shinawatra believes that the country's economy will definitely show impressive growth.
MicroStrategy, which owns Bitcoin, enters the Nasdaq 100
Today, MicroStrategy, the business intelligence giant co-founded by Michael Saylor, has shown incredible growth over the past four years and is now included in the Nasdaq 100 exchange-traded fund, the largest group of investors. Previously announced news has been confirmed. Profitable non-financial companies whose shares trade on the Nasdaq Stock Market.
This includes tech giants like Tesla (NASDAQ:), Apple (NASDAQ:), Meta (NASDAQ:), Amazon (NASDAQ:), and Microsoft (NASDAQ:).
MicroStrategy's market capitalization boost (a key requirement for a company to be added to the Nasdaq) has underperformed its Bitcoin strategy since 2020, when the company began making regular bets on BTC. As of December 2024, Saylor's company held 423,650 Bitcoins worth approximately $41.5 billion.
Over the past few years, MicroStrategy has been issuing senior convertible notes to raise billions of dollars for new large-scale Bitcoin acquisitions.
This article was originally published on U.Today
