On a recent Monday, as Bitcoin and numerous other cryptocurrencies soar to unprecedented heights, Michael Saylor drew a compelling analogy between Bitcoin and the bustling economy of New York City, dubbing it "Network Manhattan." Saylor, known for his significant Bitcoin holdings and his company's aggressive investment strategies, has positioned MicroStrategy as one of the standout beneficiaries of 2023’s cryptocurrency frenzyThe company's stock price surged by an astonishing 550% this year, primarily fueled by Bitcoin's ascent, which eclipsed the legendary $100,000 mark.

Saylor, the founder and chairman of MicroStrategy, shared his bullish outlook during an interview on CNBC's "Money Movers," stating, "We will only ever buy the top cryptocurrenciesEvery day is a great day to buy Bitcoin, even if you're buying at peak prices; it’s still a positive forecast for investment." He likened his investment approach in Bitcoin to purchasing assets in Manhattan generations ago: "One hundred years ago, two hundred years ago, three hundred years ago, I would have bought Manhattan properties

Perhaps you're paying a little more than those who bought Manhattan assets before you, but investing in the economic capital of a free world is always sound."

Saylor's most recent comments came just before MicroStrategy's impending inclusion in the Nasdaq 100 index, a move that has stirred discussions in the cryptocurrency sector and beyond, particularly concerning Bitcoin ETFsHe envisions that investing in Bitcoin now mirrors the groundbreaking opportunities that existed when Manhattan was first developed.

Being added to the Nasdaq 100 will formally place MicroStrategy, often referred to as a “Bitcoin treasury,” in the scope of the Invesco QQQ Trust ETF, which tracks the Nasdaq 100 index—a highly sought-after investment in global markets.

During trading hours on that Monday, MicroStrategy's shares spiked over 7%. Meanwhile, Coin Metrics reported Bitcoin reaching a historic high of $107,162.64, with momentum continuing post the $100,000 threshold.

Since 2020, MicroStrategy has actively integrated Bitcoin into its balance sheet, recently ramping up its strategy by issuing convertible notes to fund Bitcoin purchases

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During this period, there has been a significant uptick in bullish sentiment among global investors regarding cryptocurrencies.

Saylor announced on that Monday that MicroStrategy had acquired an additional 15,350 Bitcoin, bringing the company’s total Bitcoin holdings to an astounding 439,000, with a cumulative value estimated at approximately $46 billion.

In his interview, Saylor even addressed critics who dubbed MicroStrategy's purchasing strategy as a Ponzi scheme"Much like numerous developers in Manhattan, when real estate values skyrocket, they issue larger debts to develop more properties," he noted"That’s why New York City has such towering constructions; it's a trend that's persisted for 350 yearsI would term it an economic growth model.”

Recently, analysts from Bernstein released a forecast predicting Bitcoin's price could reach $200,000 by the end of 2025. “We anticipate Bitcoin will ultimately replace gold as the premier 'store of value asset' in the new era over the next decade," they stated, asserting that it would become a permanent fixture in institutional asset allocations and corporate financial management.

This forecast aligns with Standard Chartered’s updated predictions for Bitcoin prices

Jeff Kendrick, the bank's head of global digital asset research, accurately forecast that Bitcoin would breach the $100,000 threshold this year and recently stated expectations of a $200,000 valuation by 2025.

Bitcoin's explosive price movement has enabled MicroStrategy to experience a remarkable renaissance, having narrowly escaped the clutches of bankruptcy not long agoThe cryptocurrency has now surpassed the epic $100,000 mark, pushing towards $110,000. Known for amassing substantial Bitcoin assets, MicroStrategy's stock surged 70% since November, with a yearly increase of 550%. The company's current market capitalization is approximately $97.8 billion, dwarfing the value of its Bitcoin holdings, making it one of the most vigorous "Bitcoin stocks" in the world.

MicroStrategy has garnered recognition from financial commentators as potentially “the most successful investment bank in human financial history.” Emerging from the brink of bankruptcy to achieve a nearly $1 trillion market cap, primarily due to Bitcoin’s ascendant popularity, certainly justifies such acclaim.

Four years ago, co-founder Saylor made a bold decision to redirect the small software firm, long precariously close to financial ruin, onto a path focused on betting on Bitcoin’s appreciation

Under his leadership, MicroStrategy amassed over $40 billion worth of Bitcoin over the last four yearsThis gamble proved prescient; Bitcoin skyrocketed from around $10,000 to $100,000 during this stretch, a tenfold increase.

In October, Saylor announced plans to raise around $42 billion over the next three years through a mix of equity and fixed-income securities to accelerate the strategic pivotSince October 31, MicroStrategy has reportedly purchased around $15 billion worth of Bitcoin, also issuing up to $3 billion in zero-coupon convertible bonds—the fifth bond issuance by the company this yearThis "Bitcoin proxy" plans to sell as much as $21 billion in bonds to fund its continuous Bitcoin purchases, making convertible bonds a core part of this multi-layered volatility strategy.

Among the buyers of over $6 billion in convertible bonds MicroStrategy sold this year is Parsa, the co-CIO of Calamos Advisors LLC, whose hedge fund utilizes the significant assets raised by these bond issues to support MicroStrategy’s expanding cryptocurrency reserves