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Crypto

Michael Saylor sees bitcoin at $13 million in 2045, topping S&P 500 returns

Michael Saylor said bitcoin’s price-setting dynamics are shifting from miner-driven new supply to institutional credit demand via structured products, and he reaffirmed his view that bitcoin will outperform the S&P 500 over time. He pointed to Strategy’s preferred stock STRC as a key channel, saying it has grown to about $10.5 billion in par value in 10 months. Saylor reiterated a target of $13 million for bitcoin in 2045.

AI & Enterprise

Lenovo shares jump 15 percent after AI business revenue doubles

Lenovo shares jumped more than 15 percent after the company posted strong results, helped by growth in its AI business. Lenovo recorded quarterly revenue of $21.6 billion, up 27 percent from a year earlier, its fastest growth in five years. Net profit rose nearly sixfold to $521 million. AI-related revenue surged 84 percent and accounted for more than one-third of group revenue.

Crypto

Ethereum layer2 Zero Network to shut down operations

Ethereum layer2 Zero Network, which focused on gas-fee-free transactions, will shut down operations after about 18 months, The Block reported on May 21. The team said on X that it would end Zero Network and focus on the Zerion API and wallet. It said running an independent blockchain was not the right path to simplify user experience and drive adoption. The team said user assets are safe and advised users to move them by late July.