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- Microstrategy opened the trend followed by other major giants
- BTC is ready for one more surge
- Will cross the $56.5k resistance level
Crypto trade is going great guns and servers since BTC has breached previous records of $20,000 in December 2020, more and more institutions are turning their attention to the number one cryptocoin. According to reports on the blockchain, BTC has set an all-time high of $64,500 and has continuously surged all through 2021.
Blockdata
According to Blockdata, six major corporations have BTC worth more than $11.4 billion in their custody. Blockchain news quoting its insights provider added that the Digital Asset Custody space is now booming. The six major which are holding $11.4 billion worth of Bitcoin is as follows
- MicroStrategy- 91,579 BTC
- Tesla-43,200 BTC
- Ruffer-27,000 BTC
- Galaxy Digital-16,402BTC
- StoneRidge-10,889 BTC
- Square holding -8,027 BTC
Microstrategy sets the ball rolling
MicroStrategy, the major American business intelligence firm, started acquiring BTC and has bought an additional 205 BTC worth $10 million in recent times. Blockchain. News quoted the company’s CEO Michael Saylor who said that investment in BTC is worth more than investing in Gold. He added that Gold returns are not as compelling as BTC. He compared BTC to digital Gold in the crypto world.
Bitcoin is ready for another surge
According to CryptoQuant CEO Ki-Young Ju, this is not the end of a surge by BTC, and it will grow more because a large amount of BTC has flowed out across all exchanges. On the other hand, Market analyst Michael van de Poppe felt that BTC would have to clear the $56.5k resistance level and achieve a $60,000 area. It will help it gain upward momentum.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
