Bitcoin Price Prediction as Billionaire Michael Saylor Announces New $600 Million BTC Purchase – Time to Buy?
In a recent development that’s invigorating the cryptocurrency market, Bitcoin (BTC) has experienced a resurgence, now hovering around the $43,000 mark. This comes after a momentary dip below $42,000, with the digital currency currently trading near $42,300.
The global cryptocurrency market cap reflects this positive momentum, showing a 24-hour gain of 3.20%, and now stands at $1.69 trillion.
Adding to the bullish sentiment, Michael Saylor, the CEO of MicroStrategy, announced via Twitter that his company has acquired an additional 14,620 BTC for approximately $615.7 million, at an average price of $42,110 per Bitcoin.
MicroStrategy has acquired an additional 14,620 BTC for ~$615.7 million at an average price of $42,110 per #bitcoin. As of 12/26/23, @MicroStrategy now hodls 189,150 $BTC acquired for ~$5.9 billion at an average price of $31,168 per bitcoin. $MSTR https://t.co/PKfYY59sTW
— Michael Saylor⚡️ (@saylor) December 27, 2023
As of December 26, 2023, MicroStrategy holds a staggering 189,150 BTC, purchased for around $5.9 billion at an average price of $31,168 per Bitcoin, a move that underscores growing institutional confidence in Bitcoin as a digital asset.
This positive shift in Bitcoin’s momentum coincides with recent strategic developments in the crypto space, including Grayscale’s notable changes in leadership and the looming possibility of Bitcoin ETF approval.
Additionally, Hong Kong’s recent proposal to establish a licensing framework for stablecoins adds a new dimension to the regulatory environment, potentially influencing Bitcoin’s trajectory and the broader digital currency market.
Grayscale, a prominent cryptocurrency investment firm, recently made significant changes in its approach to the Securities and
