Bitcoin has broken $50,000 but is still well off its record high of nearly $69,000 seen in 2020
Bitcoin remains the world's largest digital asset by market cap. AFP

KEY POINTS

  • Bitcoin rose by approximately 3.8% in the past 24 hours, as per The Block
  • The rally came amid news that Goldman Sachs has been added as a partner in BlackRock's IBIT
  • Saylor has been quite optimistic of Bitcoin's rise even during days when the digital coin slumped

Bitcoin broke the $72,000 mark Monday, triggering a wave of celebration among Bitcoiners on X (formerly Twitter), including renowned BTC maximalist Michael Saylor, the founder and executive chairman of tech firm MicroStrategy.

"Welcome to the Revolution. #Bitcoin," Saylor wrote on X at around the same time the world's first decentralized cryptocurrency climbed above $72,00. He wasn't the only Bitcoiner celebrating, as other enthusiasts took to the comments section of his post to emphasize that the digital coin was nearing its all-time high of $73,000 last month.

Satoshi Club wrote, "Welcome back above $70k," and Kraken Exchange noted that Bitcoin's "revolution" is a peaceful one.

User @jo5e_neto predicted that Bitcoin can "easily 10x in the next months" due to various optimistic factors surrounding the digital currency, including the upcoming halving event and the historical approval of spot Bitcoin exchange-traded funds (ETFs), among others.

Others had similar thoughts, with some saying Bitcoin may soon hit a new all-time high.

Some took the opportunity to encourage other crypto observers to invest in Bitcoin while it's still climbing.

Bitcoin increased by around 3.8% in the past 24 hours, as per pricing data from The Block. At around 5:25 a.m. EST Monday, the world's largest crypto by market cap hit $72,073.

Interestingly, Bitcoin's 24-hour rally came after news emerged regarding Goldman Sachs' addition as an authorized participant in BlackRock's spot BTC ETF, IBIT. Goldman Sachs has been a crypto critic for the longest time, making the latest move a positive signal to the industry regarding the traditional investment banking giant's seemingly softening stance in terms of Bitcoin.

Meanwhile, Saylor's words, albeit few when he writes on X, have become a stronghold for many Bitcoiners, especially those who are still learning about Satoshi Nakamoto's creation.

He has rallied Bitcoin enthusiasts in recent weeks, even during the days when BTC prices were down. He said last week that everything before Satoshi's coin will be "BS" when the time comes.

Even before news of Goldman Sachs' addition as a BlackRock IBIT partner, Saylor projected that banks will eventually come around as more clients find interest in the gains others have made through their Bitcoin investments.

He said last month that the "resistance" of traditional banks will start to "drop," and eventually, banks will be forced to offer Bitcoin custody services, especially if their biggest clients demand so.

Bitcoin is trading at around $71,500 as of writing.

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