Prominent macro-economist Alex Krüger shared his thoughts on the current bitcoin cycle via X on Dec. 8, advising against drawing parallels with past cycles. Krüger believes bitcoin is likely experiencing a “supercycle.”
According to Krüger, the crypto industry has seen its most significant shift ever, moving from a barely legal status to becoming one of the top industries supported by the state within weeks. He compared this dramatic change to gold’s transformation in the 1970s, when President Nixon’s decision to end the Gold Standard in 1971 led to a surge in gold prices from $35 per ounce to $850 by 1981.
Krüger anticipates a major local top around March 2025 but points out that this should not be seen as the start of a bear market. He explained that such a peak would depend on factors like the rate of price increase, funding rates, and the broader economic conditions. While acknowledging the possibility of a bear market, Krüger emphasized that the necessary conditions for it are not yet in place.
He also noted that it is premature to expect a market top, as bitcoin bull runs typically last for many months. Krüger reminded his audience that it has only been 33 days since President-elect Donald Trump, who currently appears to be very pro-crypto, won the U.S. presidential election.
In related news, MicroStrategy (MSTR) Co-Founder and Executive Chairman Michael Saylor announced today on X that the company has acquired an additional 21,550 bitcoins for approximately $2.1 billion, at an average price of about $98,783 per bitcoin.
This acquisition brings MicroStrategy’s total bitcoin holdings to 423,650 BTC, purchased for around $25.6 billion at an average price of about $60,324 per bitcoin. Saylor highlighted that MicroStrategy has achieved a bitcoin Yield of 43.2% quarter-to-date and 68.7% year-to-date; MicroStrategy considers bitcoin Yield a crucial performance indicator (KPI), which measures how effectively the company acquires bitcoin in a way that increases shareholder value.
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