Colin Wu, a prominent cryptocurrency journalist from China, has highlighted the growing Bitcoin enthusiasm in Thailand, where positive changes are underway.
Former Thai Prime Minister Thaksin Shinawatra has made an extremely bullish prediction, claiming Bitcoin could surge to $850,000 in the future.
According to Wu, Shinawatra shared this outlook, noting that his associates expect the cryptocurrency to reach these heights.
Shinawatra also emphasized the importance of increasing Bitcoin awareness in the country, which led to an initiative to establish a sandbox in Phuket, enabling the use of Bitcoin for payments.
This move follows the results of the recent U.S. presidential election and anticipated shifts in U.S. cryptocurrency policies.
There are speculations in Thailand that the U.S. might leverage Bitcoin to help reduce its national debt.
Additionally, the country is considering in-depth research into stablecoins as a way to invest in the economy without printing more fiat currency. If successful, Shinawatra believes this could significantly boost Thailand’s economic growth.
Bitcoin giant Strategy has added another 4,980 BTC to its reserves in a purchase worth approximately $531.9 million, according to Executive Chairman Michael Saylor.
According to renowned market veteran Peter Brandt, trading isn’t the path to prosperity for the vast majority of people.
Charles Edwards, founder and CEO of Capriole Investments, has offered a fresh perspective on Bitcoin’s stalled price movement near the $100,000 mark, despite growing institutional enthusiasm.
Metaplanet has expanded its Bitcoin treasury with a new acquisition of 1,005 BTC valued at approximately $108.1 million, further cementing its status as one of the largest corporate holders of the digital asset.