In a move that could make even the most stoic of investors raise an eyebrow, MicroStrategy has just announced a jaw-dropping purchase of $1.1 billion worth of Bitcoin (BTC). Yes, you read that right—$1.1 billion! That’s enough to buy a small island or, you know, a lot of pizza. 🍕
But wait, there’s more! The U.S. Spot Bitcoin ETFs have jumped on the bandwagon, snapping up a staggering $3.1 billion in BTC over the last four trading days. It’s like a Black Friday sale, but instead of TVs, they’re hoarding digital gold. And let’s be honest, who wouldn’t want to be part of this crypto craze?
Now, let’s talk about Michael Saylor, the Chairman of MicroStrategy, who seems to have a one-track mind when it comes to Bitcoin. He recently took to X (formerly Twitter) to announce that his company has acquired a whopping 11,000 BTC, bringing their total to a mind-boggling 461,000 BTC. That’s enough Bitcoin to make even the most seasoned HODLer blush. 😳
In a twist that could only happen in the world of finance, MicroStrategy’s shareholders have agreed to increase the number of authorized shares from 330 million to a staggering 10.33 billion. That’s a 33x increase! James from the InvestAnswers YouTube channel estimates that if MicroStrategy issued just 20% of these shares, the BTC price could skyrocket to $564,000. Talk about a wild ride!
Meanwhile, the U.S. Spot ETFs have been busy too, purchasing 31.66K BTC in just four days. That’s nearly $3.16 billion worth of Bitcoin flowing into the market. It’s like watching a feeding frenzy, but instead of sharks, we have ETFs. 🦈
And if you think that’s all, hold onto your hats! Rumor has it that the Trump Administration is considering establishing a Bitcoin treasury. At least 10 states are preparing legislation that could allow individual Bitcoin treasuries. It’s like a game of Monopoly, but with real money and fewer plastic houses.
With only 21 million BTC ever to exist and an estimated 5 to 6 million already lost, we’re left with around 15 million BTC. That makes Bitcoin the scarcest major monetary asset on the planet. It’s like trying to find a needle in a haystack, but the needle is worth a fortune!
As for the price, Bitcoin is currently hovering around $105,350. If it can hold this level, we might just see some fireworks. But if it dips, we could be looking at support levels around $103,850 or even $101,700. It’s a rollercoaster ride, and we’re all just along for the thrill!
Looking at the charts, the bulls need to break through the $106,000
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2025-01-22 15:23