Bitcoin Developments in Thailand and MicroStrategy's Nasdaq Inclusion
Thailand's Bullish Bitcoin Outlook
Thailand is currently witnessing significant positive changes related to Bitcoin. Former Thai Prime Minister Thaksin Shinawatra has made a bold prediction, suggesting that Bitcoin could reach $850,000 in the future. Highlighting the importance of raising Bitcoin awareness among the populace, a sandbox initiative has been planned for enabling Bitcoin payments in Phuket. This move aligns with anticipated shifts in U.S. cryptocurrency policies, with some Thai politicians speculating that the U.S. might utilize Bitcoin to address national debt.
In addition, Thailand is considering a deep dive into stablecoins. The objective is to explore the potential of investing in the economy through coins backed by government bonds, thereby avoiding the need to print more currency. Shinawatra believes that such initiatives could significantly boost Thailand's economic growth.
MicroStrategy's Strategic Bitcoin Moves
MicroStrategy, a business intelligence firm co-founded by Michael Saylor, has been included in the prestigious Nasdaq 100 index. This index comprises highly profitable non-financial companies listed on the Nasdaq Stock Market, including tech giants like Tesla, Apple, and Microsoft. MicroStrategy's market capitalization has surged, driven by its strategic Bitcoin investments since 2020. The company holds a substantial amount of Bitcoin, valued at approximately $41.5 billion as of December 2024.
Since 2020, MicroStrategy has been issuing senior convertible bonds to raise capital for further Bitcoin acquisitions. This strategy underscores the company's commitment to leveraging Bitcoin as a significant financial asset, contributing to its impressive market growth and Nasdaq inclusion.
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