MicroStrategy Hits 450,000 Bitcoin Milestone Amid Inflation Concerns  

• When the inflation worries remained, Michael Saylor encouraged Mohamed El-Erian to take some Bitcoin, pointing to the opportunities. 
• MicroStrategy now holds 450,001 Bitcoins and continues to remain optimistic about the inflation hedge property of the digital asset. 
• Bitcoin nears $100,000 after the decision made by the Federal Reserve to expand its use as an investment instrument. 

The executive chairman of MicroStrategy, Michael Saylor, recently offered Allianz’s chief economic adviser Mohamed El-Erian the recommendation to invest in Bitcoin. During a CNBC interview on economic indicators that pointed to improved performance, El-Erian revealed his stance. He said inflation is a ‘matter’ not a ‘concern,’ and the Federal Reserve could be happy with inflation in the range of 2.5% to 3%, up from its core inflation of 2%. 

Fed Policies and Inflation Projections 

El-Erian criticized the Fed for its heavy reliance on economic data, suggesting it might overreact by hiking rates to meet the 2% target. He stressed that while inflation expectations remain stable, achieving a lower target might lead to unfavorable scenarios.

MicroStrategy recently announced its tenth consecutive Bitcoin purchase, bringing its total holdings to 450,000 BTC. This strategic accumulation underlines the firm’s unwavering confidence in Bitcoin’s long-term value. The acquisition reflects Saylor’s consistent advocacy for Bitcoin as a store of value. 

Bitcoin Approaching Milestone Levels 

Bitcoin Again Cloaked with Approaching the Rates of Its Historical High Numbers 

While initially, Bitcoin fell below $90,000, it is now back above that register and fluctuating at approximately $98,646 on CoinGecko. The price might soon touch $100,000 with the help of the market situation. The increased focus on Bitcoin is happening when the US Federal Reserve policies are shifting and debates about the role of BTC as the inflation hedge persist. 

For El-Erian, the bitcoin journey began earlier though he only came to invest in the cryptocurrency in 2020. 

The following year, El-Erian disclosed he invested in Bitcoin in 2018 during the downturn and eventually sold it. The care he used to show towards Bitcoin has changed with the increasing stability of the currency and general acceptance throughout the world.