Bitcoin Halving Expected To Boost BTC Price, Says Former MicroStrategy CEO

According to U.Today, Michael Saylor, the founder and former CEO of MicroStrategy, has highlighted the potential impact of the upcoming Bitcoin halving on the cryptocurrency's price. Saylor, who is now focused on the company's Bitcoin strategy, recently used his Twitter platform to discuss the significance of the halving event. In a tweet accompanied by a short video, Saylor stated, 'Bitcoin moves money forward.' The video illustrated the increasing number of pizzas one could buy with a single Bitcoin from its inception to the present day. The underlying message was that while traditional fiat currency has been depreciating over time, Bitcoin's value has been on the rise. Although the video did not explicitly mention the Bitcoin halving, it did note that 'every four years the future supply of Bitcoin is reduced.' With the Bitcoin halving just three days away, influencers are increasingly emphasizing the importance of this event for the Bitcoin community. Bitcoin halvings, which reduce the future supply of Bitcoin, have historically led to a surge in the cryptocurrency's price. For instance, Bitcoin reached an all-time high (ATH) of $20,000 in 2017 following the 2016 halving. Similarly, after the April 2020 halving, Bitcoin's price soared to a historic peak of $69,000. This year, Bitcoin achieved a new ATH of nearly $73,000 in March, even before the halving, largely due to a significant Bitcoin buying spree initiated by spot Bitcoin ETFs in January. Samson Mow, a prominent figure in the crypto world, also anticipates that Bitcoin will reach its 'Omega time' shortly after the halving.