According to an official dropMichael Saylor’s strategy has purchased 4980 Bitcoin (BTC) for $ 531.9 million. The company bought each coin for an average of $ 106,801. The company currently has a total of 597,325 BTC, worth a huge $ 42.40 billion. From today’s prices, the strategy’s BTC holds at an average price of $ 70 982 per coin.
Bitcoin is facing resistance of $ 108,000
BTC is currently facing resistance of $ 108,000. Access is struggling to break this price barrier. The original Krypton has encountered a correction of 0.4% in the daily charts. Despite the small dip, BTC is traded in the green zone for the second time. BTC has increased by 6.4% in the weekly charts, 0.9% in the 14-day diagrams, 4.1% in monthly charts and 75.5% compared to the previous year.
Also read: The Meta plane issues 208 million bonds to buy more bitcoin
BTC is currently down by only 3.6% from its maximum time of $ 111,814. If the supply continues its upward track, we can meet a new All-Time High very soon.
BTC’s current rally is probably driven by mostly institutional money. Retail investors are probably still uncertain about the global economic environment. We can see an increase in retail investments if the Federal Reserve lowers interest rates and facilitates loans. President Trump has repeatedly mocked the Fed chairman Jerome Powell not to lower interest rates. The crypto market can see a sudden increase in retail money if President Trump convinces Powell to lower interest rates.