Over the last few years, Michael Saylor has been one of the most vocal Bitcoin proponents. Despite price declines, Saylor considered $BTC as one of the best cryptocurrency investments as his company, MicroStrategy, kept stacking the crypto.
The recent recovery of $BTC has sent the price of MicroStrategy’s stock to a new all-time high. Analysts have now predicted that Bitcoin and will gain big from this move. Let’s find out how much they can benefit from this move.
How Does Bitcoin Benefit From the Rising MicroStrategy Stock Price?
Microstrategy’s stock (MSTR) price has skyrocketed above the $520 mark, the highest since December 2021. At the start of the year, MSTR traded at $140. This growth can be directly linked to the rising price of Bitcoin throughout 2023.
Analysts have said that the rising price of MSTR is bullish news for Bitcoin. This is because MicroStrategy is one of the biggest holders of Bitcoin. The company has bought around 140,000 $BTC at an average price of $29,803 per coin.
With one of the largest Bitcoin holders in profit, the market sentiment could shift into being bullish. MicroStrategy’s profit could further be increased entering into 2024. With Bitcoin halving and a spot Bitcoin ETF underway, more price increases are expected.
If this plays out, MicroStrategy’s long-term bet on Bitcoin as one of the best cryptocurrency investments would have paid off. With 2024 looking to be a bullish year, investors are searching for the best altcoins to buy. Top of the list is Galaxy Fox ($GFOX).
Galaxy Fox ($GFOX) To Dominate the Crypto Gaining Space
While the crypto market has been predicted to be bullish in 2023, Galaxy Fox ($GFOX) has emerged as the top contender for crypto in the bull market. This is because the project has introduced a unique new model. Galaxy Fox has blended the appeal of meme coins with a blockchain play-to-earn (P2E) ecosystem.
The Galaxy Fox ecosystem is built around an intergalactic web3 runner game. The game is set in a virtual world where players emerge as unique foxes looking to conquer the galaxy. Players are rewarded for dominating worlds on their journey to the top of the intergalactic leaderboard.
The team has added more excitement to the P2E game by integrating some of the coolest NFTs in the ecosystem. Unlike regular digital assets, the collection of 3,000 NFTs serves as boosts and enhances the abilities of characters. When integrated, they elevate the player’s potential to earn more.
Players get incredible rewards in $GFOX and digital assets. $GFOX is the ERC 20 coin that powers the ecosystem. Galaxy Fox is currently in its second presale stage where it is traded at $0.0008778 per token.
Final Thoughts
With Bitcoin leading the way, 2024 already appears to be a very exciting year for cryptocurrencies. Meanwhile, investors and gamers have taken notice of the Galaxy Fox’s unique model. Market analysts have predicted that $GFOX’s distinctiveness and dual utility will lead to a 1,000% price increase. Thus it ranks among the best cryptocurrency investments alongside Bitcoin during the bull market. Check out their presale to find out more today!
Learn more about Galaxy Fox ($GFOX) here:
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