Michael Saylor proposed his idea of using the company’s dividend concept to push the adoption of Bitcoin among non-Bitcoin investors.
On 16 Nov 2024, Michael Saylor, the chairman & former CEO of Nasdaq-listed business intelligence firm MicroStrategy, proposed his idea to distribute dividends to MicroStrategy ($MSTR) stockholders in Bitcoin also.
On behalf of a latest statement by Michael Saylor on Bitcoin price & current Bitcoin bull sentiments, a Bitcoin-centric crypto X account predicted that MicroStrategy could raise $42 billion to buy Bitcoin “much before” the 3-year plan.
Last month, Saylor clarified his intention to add $42 billion worth of Bitcoin in the next three years to the company’s reserve fund. But now it seems things may happen more fastly, as buy pressure is now increased among the countries.
Recently, US state Pennsylvania lawmakers have introduced the Bitcoin Strategic Reserve Act, which proposes allowing the state to allocate up to 10% of its $7 billion reserves into Bitcoin.
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This move, spearheaded by Representative Mike Cabell, aims to hedge against inflation and diversify financial assets. The legislation represents a significant step in recognizing Bitcoin as a viable financial tool at the state level. However, the bill is still under consideration and not yet enacted.
Bitcoin Price Action
The current trade price of Bitcoin (BTC) is $90,414, and this price level has been stable since the last couple of days. Notably, the trade price of Bitcoin surged nearly 31% in the last 30 days.
According to a latest analysis by a Titan of crypto, Bitcoin is currently on the path of $158,000 level.