Bloomberg: Traders are watching to see if MicroStrategy will continue to increase its Bitcoin holdings as announced on Monday
As 2024 draws to a close, the Bitcoin surge triggered by Trump's early November election victory in the United States is stalling. Since hitting a record high in mid-December, Bitcoin has fallen about $15,000.
Chris Weston, head of research at Pepperstone Group, said that Bitcoin's "momentum has deviated from its post-election trend," partly due to ETF outflows. Meanwhile, software manufacturer MicroStrategy has been buying up Bitcoin in large quantities over the past few weeks. Traders are waiting and watching whether the company will continue to announce an increase in Bitcoin holdings on Monday.
This year, Bitcoin has risen approximately 120%, with returns exceeding traditional investments such as global stocks and gold. In 2023 also bitcoin doubled its value recovering from bear market (Bloomberg). Yesterday news reported that Michael Saylor released information on his eighth consecutive week of tracking Bitcoins which may suggest another increase in BTC holdings.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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