Bitcoin Will Reach $850,000, Former Thai Prime Minister 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.

Cryptocurrency journalist and blogger Colin Wu shared some positive Bitcoin-related news that is currently unfolding in Thailand.

Moreover, the former price minister of the country, Thaksin Shinawatra, has made an ultra-bullish Bitcoin price prediction.

Bitcoin will reach $850,000, claims Shinawatra

Wu shared a link to an article about Thaksin Shinawatra, who is not only the former prime minister of Thailand but his son is currently occupying this position. According to Wu’s tweet, Shinawatra said that his friends expect BTC to skyrocket as high as $850,000 in the future.

He also believes that it is important to raise Bitcoin awareness among the population. To this end, an order has been issued to set up a sandbox that would allow BTC to be used for payments in Phuket.

Thaksin Shinawatra, former Thai PM and father of the current PM, said on the 13th that his friends believe that Bitcoin will reach $850,000, and the Thai people should learn and stay informed, which will undoubtedly be reflected in… pic.twitter.com/UVopRoN1Bf

This initiative follows the recent U.S. presidential election and the expectation of a shift in cryptocurrency policies in the country in the coming period. Some politicians in Thailand believe that the U.S. may use Bitcoin to repay all or part of its national debt to creditors.

Furthermore, Thailand may begin to deeply research and study stablecoins. The goal is 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 believes that the country’s economy will definitely show impressive growth.

Bitcoin-holding MicroStrategy joins the Nasdaq 100

Earlier today, news emerged that business intelligence giant MicroStrategy, co-founded by Michael Saylor, which has seen staggering growth in the past four years, has been included in the Nasdaq 100 exchange-traded fund (ETF) that consists of the 100 most profitable non-financial companies whose stock trades on the Nasdaq Stock Market.

The Nasdaq 100 index also includes tech giants such as Tesla, Apple, Meta, Amazon, and Microsoft.

MicroStrategy’s market capitalization boost (a key requirement for a company to be added to the Nasdaq) has been largely driven by its Bitcoin strategy since 2020, when the company began making regular bets on BTC. As of December 2024, Saylor’s company holds 423,650 Bitcoin, currently valued at around $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.