According to prominent macroeconomist Alex Krüger, Bitcoin is currently in a super cycle. In a recent post on X, Krüger indicated that the current market cycle cannot be compared to previous crypto cycle patterns.
Bitcoin’s Transformation: From Niche to Mainstream
Krüger emphasized that the crypto industry has undergone a historic shift, evolving from a sector with limited regulatory recognition to a government-backed industry in a matter of weeks. He compares this transformation to the gold market in the 1970s. When President Nixon ended the gold standard in 1971, the gold price rose from $35 to $850 per ounce in ten years.
“Bitcoin is experiencing a similar change,” Krüger said. He foresees a major local peak around March 2025, but warns that this does not necessarily mean the start of a bear market. The continuation of the bull market, he said, will depend on factors such as the speed of price increases, financing rates and broader macroeconomic conditions.
MicroStrategy continues to invest heavily in Bitcoin
In addition to Krüger’s analysis, Michael Saylor, co-founder of MicroStrategy, announced that the company has once again purchased a significant amount of bitcoins. MicroStrategy purchased 21,550 BTC for approximately $2.1 billion, at an average price of $98,783 per bitcoin.
With this purchase, MicroStrategy now owns a total of 423,650 BTC, purchased for approximately $25.6 billion at an average price of $60,324 per bitcoin. According to Saylor, the company has achieved quarterly Bitcoin returns of 43.2% and an impressive 68.7% return so far this year.
Market considerations and future prospects
Krüger pointed out that despite recent increases, it is too early to expect a market top. Bull runs like these tend to have a longer lifespan. He emphasized that the recent election win of Donald Trump, who appears to be taking a pro-crypto stance, only took place 33 days ago. According to Krüger, this indicates that the current market cycle is still in its early stages.
The comparison to historical gold prices and the constant interest from institutional investors, such as MicroStrategy, contribute to the idea that Bitcoin may be in an unprecedented super cycle.
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Source: https://newsbit.nl/alex-kruger-bitcoin-bevindt-zich-in-een-supercyclus/
