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Apple Should Buy $100 Billion of Bitcoin, MicroStrategy’s Saylor Suggests

MicroStrategy CEO Michael Saylor has suggested that Apple should invest $100 billion in Bitcoin instead of a stock buyback. Saylor believes such a move would significantly boost Apple's market cap and deliver long-term financial gains, positioning Bitcoin as a key growth driver for major corporations.

• Main Points:

  • $100 billion Bitcoin buy: Saylor urged Apple to invest $100 billion in Bitcoin, predicting it would grow to $500 billion, driving substantial investment gains.

  • Market cap boost: He believes this investment could add $1–2 trillion to Apple's market cap, transforming 40% of the company's value to reflect its Bitcoin holdings.

  • MicroStrategy’s strategy: MicroStrategy, the largest corporate holder of Bitcoin, has seen its stock soar by 182% year-to-date.

  • Impact on S&P 500 companies: Saylor also noted that smaller S&P 500 companies could see performance gains similar to Big Tech if they adopted Bitcoin investments.

• Detailed Insights:

  • Saylor's bold proposal for Apple: Speaking on the "Markets with Madison" podcast, Michael Saylor outlined a bold strategy for Apple: invest $100 billion into Bitcoin. He argued that this would generate $500 billion in Bitcoin value and offer 20% growth annually. Saylor added that such a move could yield $100 billion in yearly investment gains for Apple, reshaping its financial foundation and significantly boosting its market cap by as much as $2 trillion.

  • MicroStrategy’s success with Bitcoin: MicroStrategy itself has benefited massively from its Bitcoin strategy. Holding $17.1 billion worth of Bitcoin, the company has seen its stock price rise by 182% this year. Saylor emphasized that Bitcoin has been central to MicroStrategy's digital transformation, and similar moves by other major companies could unlock similar financial benefits.

  • Bitcoin’s influence on the S&P 500: Saylor suggested that smaller companies in the S&P 500 could gain performance advantages similar to Big Tech by investing in Bitcoin. He believes Bitcoin could elevate the overall performance of the S&P 500 index, pushing it closer to the success seen by leading tech companies.

Related: Bitcoin Breakout Confirmed: 3 Price Levels to Watch Next

Saylor’s proposal places Bitcoin at the center of a bold new investment strategy for corporations like Apple, advocating for Bitcoin as a transformative financial asset with immense growth potential.

Why is Dogecoin price up today?

Dogecoin’s price jumped by 8.5% in the past 24 hours to $0.136, fueled by Elon Musk's recent mention of "D.O.G.E." during a town hall supporting Donald Trump. Musk's influence once again sparked a rally in the memecoin, which has outperformed Bitcoin and Ethereum.

• Main Points:

  • Price surge: Dogecoin is up 8.5% today, reaching its highest level in three months.

  • Elon Musk's influence: Musk mentioned "D.O.G.E." during a town hall for Donald Trump, boosting Dogecoin’s price.

  • Rising sentiment: The market is showing a risk-on sentiment, with Dogecoin gaining 25% week-to-date.

  • Falling wedge breakout: Dogecoin broke out of a bullish falling wedge pattern, signaling more upside potential.

• Detailed Insights:

  • Musk’s mention sparks Dogecoin rally: During an October 17 town hall event, Musk proposed a “Department of Governmental Efficiency,” whose initials form D.O.G.E., Dogecoin’s official ticker. Musk had also tweeted “D.O.G.E. will fix it” on October 15, contributing to the memecoin's rally. Musk’s remarks often resonate with Dogecoin enthusiasts, and this latest mention has driven a surge in DOGE’s price, which is up around 25% for the week.

  • Elon Musk’s impact on Dogecoin: As the self-proclaimed “Dogefather,” Musk has a history of driving massive price increases for Dogecoin through tweets and public statements. His large following of retail investors often treats his comments as informal endorsements, leading to quick price jumps.

  • Falling wedge breakout: Technically, Dogecoin’s recent gains align with a breakout from its falling wedge pattern, a bullish reversal signal. After breaking the wedge’s upper trendline, DOGE has retested this level as support near $0.105, which strengthens the breakout’s credibility. Analysts now see $0.19 as a potential target by the end of 2024, corresponding to the 0.786 Fibonacci level.

  • Potential correction ahead: However, with Dogecoin’s relative strength index (RSI) jumping above 70—indicating overbought conditions—a short-term pullback could be on the horizon. If a correction occurs, DOGE may fall back to the 0.236 Fibonacci line near $0.122 before resuming its upward trend.

Related: Ethereum Price Crashes Often Follow ETH Open Interest Peaks — Will History Repeat?

Dogecoin's price surge today is another testament to the powerful influence of Elon Musk and his ability to move markets, particularly in the world of meme-based cryptocurrencies.

Tesla Relocates $760M Worth of Bitcoin, While SpaceX Funds Remain Untouched

Tesla recently moved over 11,500 Bitcoin, worth more than $760 million, from its known wallets to undisclosed addresses. This significant transfer, while unconfirmed whether it's a sale or security measure, raises questions about Tesla’s future in crypto. Meanwhile, SpaceX’s Bitcoin holdings remain untouched, prompting speculation about Elon Musk’s overall strategy with digital assets.

• Main Points:

  • 11,509 BTC moved: Tesla transferred 11,509 BTC, valued at $760 million, in a series of transactions on Oct. 15, 2024.

  • Unknown destination: The Bitcoin was moved to new, unknown wallets, raising questions about the purpose of the transfer.

  • SpaceX holds steady: SpaceX’s 8,285 BTC, worth $555 million, remains unmoved, fueling speculation about its future strategy.

  • Purpose unclear: It’s uncertain whether Tesla sold the Bitcoin or simply repositioned it for security or strategic purposes.

• Detailed Insights:

  • Tesla’s massive Bitcoin transfer: Tesla made headlines after moving 11,509 BTC from its well-known wallets in a series of transactions totaling over $760 million. The initial movement of 1,800 BTC was detected by Arkham Intelligence, with the remainder following shortly after. All of the transfers went to legacy-style P2PKH addresses, with no confirmation as to whether the funds were sold or simply transferred for security reasons.

  • SpaceX holds firm: Unlike Tesla, SpaceX’s Bitcoin holdings of 8,285 BTC remain untouched. This raises further speculation about Elon Musk’s broader strategy in handling cryptocurrencies across his companies. With both Tesla and SpaceX holding significant Bitcoin reserves, their actions are closely watched by analysts trying to gauge Musk’s next moves in the crypto space.

  • Strategic repositioning or security measure?: The large-scale relocation of Tesla’s Bitcoin could suggest several things—a possible strategic repositioning within the market, a sale, or a move to enhance security measures. With no public statements from Tesla on the matter, analysts are left to speculate on the company’s evolving stance toward digital assets.

Related: Blackrock CEO Larry Fink Declares Bitcoin an Asset Class, Rivaling Gold in Investment Potential

This move by Tesla has sparked curiosity across the crypto community, with many waiting to see if this signals a shift in the company’s crypto strategy or simply a precautionary measure amid the volatile market conditions. All eyes are on Tesla’s next move and how SpaceX may follow.

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This article is not financial advice. Market conditions can change rapidly, and past performance does not guarantee future results