
Maryama 🎩 🎭
@maryama
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Bitcoin’s price fell from $88,060 on April 26, 2021 to $82,036 on April 27, resulting in $158 million in liquidation from leveraged trades.
The decline, along with record gold prices, has raised concerns about Bitcoin’s “digital gold” narrative. However, many experts believe that a Bitcoin price rally is imminent as governments take action to avert an economic crisis.
The global trade war and the US government’s spending cuts are seen as temporary setbacks. More liquidity is expected to enter the markets, which could favor riskier assets.
Analysts believe that Bitcoin will benefit from this macroeconomic shift. Some expect “policy uncertainty” to ease by early April, reducing the likelihood of a recession. However, market volatility remains a factor. 0 reply
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Strategy, led by Michael Saylor, increased its holdings by buying 6,911 bitcoins worth more than $584 million between March 17 and 23, at an average price of $84,529 per coin.
Strategy now holds more than 500,000 bitcoins, according to a filing with the U.S. Securities and Exchange Commission today. The firm’s total bitcoin holdings have reached 506,137, with a total purchase price of about $33.7 billion, or an average price of $66,608 per bitcoin.
The purchase came a day after the company announced the pricing of its latest series of preferred shares on March 21. The preferred shares were sold at $85 per share and carry a 10% coupon, and are expected to yield about $711 million in proceeds. 0 reply
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