Bitcoin Tops $106,000; Saylor's Strategy Holds 580,955 BTC After Eight Weeks of Purchases

Bitcoin's price has surpassed $106,000, with reports confirming it is trading above the $106,000 mark, up from $105,000 earlier in the weekend.

Michael Saylor, chairman of Strategy (formerly MicroStrategy), has hinted at another round of Bitcoin purchases by posting his 'Saylor Tracker' chart and the message 'Send more Orange.' According to CoinPost, Strategy has purchased Bitcoin for eight consecutive weeks, including a recent acquisition of 705 BTC, bringing its total holdings to 580,955 BTC. The company's unrealized gains exceed 50%, with a holdings value of over $20 billion.

Saylor has stated that if Wall Street allocates 10% to Bitcoin, the price could reach $1,000,000 per coin, and has urged individuals to acquire Bitcoin before it becomes unavailable.

Other industry leaders have also made notable comments. Coinbase CEO Brian Armstrong called Bitcoin a better form of money than gold, while Uber CEO Dara Khosrowshahi described it as a 'proven commodity' and supported stablecoins for global transactions. Cathie Wood of Ark Invest projected Bitcoin could reach $1.5 million, and Tom Lee suggested a long-term target of $2-3 million or higher.

There are also claims of sovereign entities purchasing billions of dollars' worth of Bitcoin. Robert Kiyosaki and Tim Draper have made additional statements supporting Bitcoin's potential for substantial future appreciation.