Bitcoin (BTC) Will Reach $850K, Former Thai PM Thaksin Shinawatra Predicts

Chinese cryptocurrency journalist and blogger Colin Wu spreads the word about the positive Bitcoin-related changes that are taking place in Thailand now.

Bitcoin is now undergoing a legal transformation in Thailand, with the former price minister making an ultra-bullish BTC price prediction and an order being issued to set up a sandbox that would allow BTC to be used for payments in Phuket.

According to Wu, Bitcoin will reach $850,000, and it is important to raise Bitcoin awareness among the population. An order has been issued to set up a sandbox that would allow BTC to be used for payments in Phuket.

This initiative came up after the recent U.S. presidential elections and the expected pivot in cryptocurrency policies in the country in the near future. Some politicians in Thailand believe that the U.S. may use Bitcoin to repay its national debt or part of it to creditors.

Thailand may also start deep research and study of stablecoins to find out whether it is possible to invest money in the economy without printing more banknotes by issuing coins backed by government bonds. If this is done, Thaksin Shinawatra reckons that the country’s economy will definitely show impressive growth.

Bitcoin-holding MicroStrategy enters Nasdaq 100The Nasdaq 100 index also includes such tech giants as Tesla (NASDAQ:TSLA), Apple (NASDAQ:AAPL), Meta (NASDAQ:META), Amazon (NASDAQ:AMZN), Microsoft (NASDAQ:MSFT).

MicroStrategy’s market capitalization boost (the key requirement for a company to be added to Nasdaq) has been down to its Bitcoin strategy since 2020, when the company started its regular bets on BTC. As of December 2024, Saylor’s company holds 423,650 Bitcoin roughly valued at $41.5 billion.

Over the past couple of years, MicroStrategy has been issuing senior convertible bonds to raise billions of U.S. dollars to make large new Bitcoin acquisitions.

This article was originally published on U.Today