🇺🇸 Detroit, Michigan, becomes the largest US city to accept Bitcoin and crypto for taxes.

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Bitcoin (BTC) is trading at approximately $86,636.00 USD. This reflects a 3.06% increase over the past 24 hours. Bitcoin's current market capitalization stands at around $1.72 trillion USD.

Bitcoin's market dominance, which measures its share relative to the overall cryptocurrency market capitalization, is currently at 61.35%.


Michael Saylor, co-founder and executive chairman of Strategy (formerly MicroStrategy), has made several notable statements and actions regarding Bitcoin:

Bitcoin Price Prediction: At a recent digital asset summit, Saylor predicted that Bitcoin could reach $13 million per coin within the next 20 years. He emphasized Bitcoin's robustness and security as a monetary network, suggesting that as institutions and governments recognize its superiority as a reserve asset, demand will soar, driving its value to unprecedented heights.

Fundraising to Increase Bitcoin Holdings: Strategy has successfully raised $722 million through a Series A stock sale to expand its Bitcoin holdings. This funding round increases the company's total Bitcoin reserves to over 500,000 BTC.


CNBC Analyst Tom Lee: Projects Bitcoin reaching $250,000 by 2025, attributing this to increasing institutional adoption and favorable regulatory developments.

VanEck's Matthew Sigel: Forecasts Bitcoin's price at $180,000 in 2025, highlighting the impact of Bitcoin ETFs and growing institutional interest.

Standard Chartered's Geoffrey Kendrick: Predicts Bitcoin could hit $200,000 in 2025, driven by institutional inflows and Bitcoin achieving 20% of gold's market capitalization.

PlanB's Stock-to-Flow Model: Anticipates Bitcoin reaching $1 million by 2025, based on scarcity and increasing demand.


Conversely, some analysts urge caution. BCA Research, previously bullish on Bitcoin, now suggests the market may have peaked, citing excessive optimism and potential overheating.

Overall, while many institutions maintain a positive outlook on Bitcoin's future value, they also acknowledge the inherent volatility and external factors influencing the cryptocurrency market.


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