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When New BTC ATH? Michael Saylor Triggers Crypto Community's Enthusiasm on This

source-logo  u.today 22 February 2024 15:35, UTC

Founder of MicroStrategy and vocal Bitcoin advocate Michael Saylor has taken to the X social media platform (formerly popular as Twitter) to show that Bitcoin has been printing new all-time highs in many small countries against their local fiat currencies.

Bitcoin hitting new all-time highs in fiat

The animated video shows a series of charts changing and showing new all-time price highs reached by Bitcoin in various small countries – Japan, Laos, Nigeria, Pakistan, Turkey and many others.

When will #Bitcoin reach a new all-time high in your country? pic.twitter.com/n93cYQDAYO

— Michael Saylor⚡️ (@saylor) February 22, 2024

The majority of these countries are based on the African continent, and what is common for them (with Japan standing as an exception) is that these are all developing economies with poor financial systems, weak local currencies and major inflation taking place. Bitcoiners and many influencers from the financial world in the U.S. call Bitcoin a hedge against inflation. Several experts stand out of that group, such as the author of the “Black Swan” book Nassim Taleb, and criticize Bitcoin.

Curiously, Taleb comes from Lebanon, one of the countries constantly hit by high inflation, with the local fiat currency quickly losing value. He started out being a Bitcoin advocate, but several years ago he became of its rigorous critics.

“When will Bitcoin reach a new all-time high in your country?” Saylor tweeted.

The Bitcoin community responded with a massive flow of enthusiastic responses about Bitcoin, sharing their random predictions of when they expect a new all-time high for it. Many of them hope that Bitcoin will surge to the ATH this year.

Bitcoin to $500,000: Max Keiser

Prominent Bitcoin supporter Max Keiser tweeted today that he expects the flagship cryptocurrency to surge “past $500,000” since he expects a major stock market crash similar to what happened in 1987.

Keiser cited a report published by The Kobeissi Letter, which says that the market at the moment has reached a peak as it seems to show the highest stock concentration since the Great Depression – 75%.

Earlier, U.Today reported that founder of Amazon Jeff Bezos has been selling massive amounts of AMZN. Bill Gates and other outstanding business leaders have also been selling a lot of shares from their portfolios. The last time Bezos sold that many stocks was in 2021 when the market peaked, according to Anthony Pompliano.