Odds of Magnificent 7 Company Buying Bitcoin on the Rise
12/24/2024 03:15Kalshi bettors see high odds of a Magnificent 7 company buying Bitcoin in 2025
Kalshi bettors see high odds of a Magnificent 7 company buying Bitcoin in 2025
Kalshi users currently see a 70% chance of a Magnificent 7 company buying Bitcoin before the end of 2025.
As reported by U.Today, business intelligence firm MicroStrategy announced another significant Bitcoin purchase earlier today. Its total Bitcoin holdings currently stand at roughly $41 billion, which represents 2.1% of the cryptocurrency's entire supply. The company's shares have surged by nearly 500% this year.
Earlier this year, MicroStrategy managed to top several Magnificent 7 stocks, including Amazon (AMZN), in terms of trading volume.
So far, Bitcoin's corporate is yet to gain significant traction despite MicroStrategy's success story.
After Tesla made its groundbreaking $1.5 billion investment in Bitcoin back in 2021, many suggested that many other major non-crypto players would follow suit. However, this was not the case.
As reported by U.Today, only a tiny portion of chief financial officers surveyed by CNBC view Bitcoin as a store of value. The vast majority of them continue to treat it as a tool for speculation.
Earlier this month, Microsoft shareholders overwhemingly rejected a proposal to assess potential Bitcoin investment, with less than one percent of them voting in favor of such an initiative.
Amazon shareholders also recently proposed investing as much as 5% of the tech giant's assets into Bitcoin. However, such a proposal is unlikely to be approved in the near future.
Even though MicroStrategy CEO Michael Saylor does not expect corporations to rally behind Bitcoin in the near future, he recently said that he expected the leading cryptocurrency to be part of the discussion.
About the author
Alex Dovbnya
Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at [email protected].
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