Bitcoin could reach $850,000, former Thai prime minister says to U.Today

U.Today – Chinese journalist and cryptocurrency blogger Colin Wu is spreading the word about the positive Bitcoin changes happening now in Thailand.

In addition, the country’s former price minister Thaksin Shinawatra made an ultra-bullish price prediction.

Bitcoin will reach $850,000, according to Shinawatra

Colin Wu shared a link to an article about Thaksin Shinawatra, who is not only the former Prime Minister of Thailand, but his son currently holds the position. According to Wu’s tweet, Shinawatra said his friends expect Bitcoin to jump to $850,000 in the future.

He also believes that it is important to raise awareness about Bitcoin among the population. This is why an order was issued to set up a sandbox that would allow BTC to be used for payments in Phuket.

This initiative came about after the outcome of the recent US presidential election and an expected turn in the country’s cryptocurrency policy in the near future. Some politicians in Thailand believe that the US could use bitcoin to pay off all or part of its national debt to creditors.

In addition, Thailand can begin deep research and study of stablecoins. The goal is to find out if it is possible to invest money in the economy without printing more banknotes by issuing coins with government bonds. If this is done, Thaksin Shinawatra believes that the country’s economy will definitely show impressive growth.

Bitcoin-holding MicroStrategi enters the Nasdaq 100

Today confirmed the previously announced news that business intelligence giant MicroStrategi, co-founded by Michael Saylor, which has shown astonishing growth over the past four years, is now included in the Nasdaq 100 exchange-traded fund consisting of the most profitable non-financial companies whose shares trade on Nasdaq stock market.

It also includes tech giants such as Tesla ( NASDAQ: ), Apple ( NASDAQ: ), Meta ( NASDAQ: ), Amazon ( NASDAQ: ), Microsoft ( NASDAQ: ).

MicroStrategi’s market cap growth (a key requirement for a company to be listed on the Nasdaq) has scaled back its Bitcoin strategy since 2020, when the company began its regular bets on BTC. As of December 2024, Saylor’s company holds 423,650 bitcoins worth $41.5 billion.

Over the past few years, MicroStrategi has issued senior convertible bonds to raise billions of US dollars for major new bitcoin acquisitions.

This article was originally published on U.Today