Hello friends, a major Bitcoin whale has announced the purchase of $750 million worth of Bitcoin, which has generated a recent increase in price.
The massive purchase of Bitcoin by Michael Sailor, CEO of MicroStrategy, has generated bullish momentum in the market. Intention to sell $750 million worth of shares to acquire more Bitcoin is announced.
Therefore, the market reacted to that news and bitcoin was about to hit 30k. Despite the current volatility, some analysts are predicting a bullish future for Bitcoin due to its correlation with other financial assets. In addition, a possible price eruption is mentioned thanks to the upcoming halving.
What to keep in mind is that the company now owns 152,800 bitcoins, worth about $4.5 billion depending on the bitcoin price on the market. If the purchase is ratified, MicroStrategy would be adding 25,000 more bitcoin to his account.
MicroStrategy is losing money on its Bitcoin investment as total revenue has declined 1% year-over-year. So the company is interested in acquiring more Bitcoin. In the second quarter MicroStrategy acquired more than 12,300 Bitcoins, the highest increase in two years and is expected to acquire 25,000 bitcoins as I mentioned earlier.
Importance of Bitcoin for companies like MicroStrategy |
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Bitcoin is an escape from problems such as inflation and cold currencies, for this reason important companies such as MicroStrategy find it interesting to invest in Bitcoin, which is why it continues to increase its capital in Bitcoin and already has more than 1.1% of the total supply in circulation.
Despite the news, Bitcoin may continue to push the market higher, but it is likely that it will find resistance as it did at $29,990 and has currently corrected its price to $29,200, so I advise you to remain calm and see how the situation develops.
In conclusion |
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It is important that companies like MicroStrategy are interested in acquiring more bitcoin, thus guaranteeing that this bitcoin will not be sold in the short term, and provides solidity and liquidity to the market.
Main source of the information |
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Link Twitter:
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This plan has been around for a long time.
but I haven't seen any extraordinary buying action from the market at this time.
maybe waiting for American interest rates to fall so it can accumulate the possibility that BTC will return.
Nice review, bro.
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Normally, these institutions usually give this type of news to raise the price of bitcoin and thus they can sell their bitcoin, taking the money from the news hunters.
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Dear @joeljaimes1982 ,
We appreciate your active participation and contributions to our community. To ensure a positive environment for all members, we have implemented a set of guidelines to maintain respectful and constructive discussions while upholding community guidelines.
Thank you for this news report, although we expect bitcoin to create a new all time high come this halving.
What's your prediction for bitcoin?
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Good friend. Normally the months of August and September are difficult months for the stock market due to institutional and business holidays. Since very few institutions will show activity in the market, of course, I am talking about the European market, which plays an important role in the crypto market. On the other hand, the microstrategy news caused the bitcoin price to recover a bit, although certainly they tend to buy their bitcoin little by little and not like real whales do.
From what I have analyzed, bitcoin in these two months (August and September) will go down in value but slowly until it reaches the 26k area, due to the low activity in the European market. That's my point of view. I can be wrong.
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hello friend 13 days ago you asked me about my prediction for bitcoin. Although my prediction was not in the short term since the low activity of the European markets was coming and giving a short-term analysis was somewhat complicated, as you could see, bitcoin remained above 29k for 13 days until today that the bears lost patience and sold their bitcoin, something that was already seen coming due to the low market activity.
A rise is coming but slowly until it returns to 28.5k before the end of the week.
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