Bittime - Analysis from TD Cowen Lance Vitanza claims that Bitcoin (BTC) has a big upside opportunity this month due to two important catalysts. Vitanza also claims MicroStrategy (MSTR) shareholder Michael Saylor has a "meaningful" upside opportunity through the end of this year.
MicroStrategy Shares With Bitcoin Catalyst
Last week, MicroStrategy reported a net operating loss of $53.1 million and a decline in digital assets of $191.6 million for the first quarter of 2024.
However, the company has not yet complied with new digital asset fair value accounting regulations, even though Bitcoin's price rise earlier this year would have been very profitable.
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Vitanza, who spoke at MicroStrategy's World 2024 user forum in Las Vegas last week, said clients gave excellent feedback about the company's legacy software business, which was founded long before Saylor pushed the company to buy billions of dollars in Bitcoin. This year, the company's shares could increase by 89 percent due to two main factors that could increase the price of Bitcoin.
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Increasing Institutional Acceptance of Bitcoin
According to the analyst, if more companies purchase newly established Bitcoin exchange-traded funds during the first quarter, this would indicate that Bitcoin is becoming more accepted by institutions. Institutional investors must file form 13-F with the Securities and Exchange Commission by May 15.
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Potential Ether ETF Rejection by SEC
Due to the possibility of the SEC rejecting an ether ETF, which is highly anticipated by many in the industry, Vitanza said that additional events may benefit Bitcoin and MicroStrategy. According to data compiled by CoinDesk, Bitcoin has risen 43% since the start of this year and reached a high above $73,000 in March.
How To Buy Bitcoin (BTC) With Bittime
You can buy and sell Bitcoin (BTC) in an easy and safe way via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
Bitcoin (BTC) is available on Bittime with BTC IDR pairing.
To be able to buy BTC tokens on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet . For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn How to Buy Bitcoin (BTC) on Bittime.
Monitor price chart movements of Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
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DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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