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Chinese cryptocurrency journalist and blogger Colin Wu spreads the word about the positive Bitcoin-related changes that are taking place in Thailand now.
Besides, the former price minister of the country Thaksin Shinawatra has made an ultra-bullish Bitcoin price prediction.
Bitcoin will reach $850,000, Shinawatra believes
Colin Wu shared a link to an article about Thaksin Shinawatra, who is not only the former prime minister of Thailand but his son is currently occupying this position. Per Wu’s tweet, Shinawatra said that his friends expect Bitcoin to skyrocket as high as $850,000 in the future.
He also believes that it is important to raise Bitcoin awareness among the population. Therefore, an order has been issued to set up a sandbox that would allow BTC to be used for payments in Phuket.
This initiative came up after the outcome of the recent presidential elections in the U.S. and the expected pivot in cryptocurrency policies in the country in the near future. Some politicians in Thailand believe that the U.S. may use Bitcoin to repay its national debt or part of it to creditors.
Besides, Thailand may start deep research and study of stablecoins. The goal is to find out whether it is possible to invest money in the economy without printing more banknotes by issuing coins backed by government bonds. If this is done, Thaksin Shinawatra reckons that the country’s economy will definitely show impressive growth.
Related
Bitcoin-holding MicroStrategy enters Nasdaq 100
Today, the earlier emerged news was confirmed that the business intelligence giant MicroStrategy co-founded by Michael Saylor, which has shown staggering growth in the past four years, has now been included in the Nasdaq 100 exchange-traded fund that is comprised of the most profitable non-financial companies whose stock trades on the Nasdaq Stock Market.
The Nasdaq 100 index also includes such tech giants as Tesla, Apple, Meta, Amazon, Microsoft.
MicroStrategy’s market capitalization boost (the key requirement for a company to be added to Nasdaq) has been down its Bitcoin strategy since 2020, when the company started its regular bets on BTC. As of December 2024, Saylor’s company holds 423,650 Bitcoin roughly worth $41.5 billion.
Over the past couple of years, MicroStrategy has been issuing senior convertible bonds to raise billions of U.S. dollars to make large new Bitcoin acquisitions.
