Bitcoin has experienced a slump, falling below $63K, indicative of the wider struggle in the cryptocurrency market. Wall Street giant,
Morgan Stanley, has authorised wealth advisors to pitch bitcoin ETFs, marking a landmark step for big banks.
MicroStrategy has also apparenetly confounded observers with its reported losses, despite its BTC holdings rising to 226,500. The firm's CEO,
Michael Saylor, hailed this as an 'Epic Bitcoin Adoption Milestone'. In policy news, over 2,200 letters were sent supporting the 'Bitcoin Strategic Reserve' bill to US senators. These letters urged for Bitcoin to be made a strategic reserve. It is speculated that Bitcoin could hit an all-time high price of $350,000, according to the CEO of
VanEck. However, following this bullish prediction, Bitcoin experienced a strong start to the week but quickly saw a harsh drop, spurring panic among investors. Interestingly, Bitcoin’s dormant supply had fallen to 66% from 70% at the start of 2024, possibly a result of increased trading activity. US Presidential Candidate
BRICS expressed the importance of Bitcoin in saving the declining US Dollar. A recent report from
QCP Capital found a direct correlation between Bitcoin’s price drop and both a surge in supply and macroeconomic problems. Finally,
Michael Saylor's Micro Strategy bought 169 Bitcoin for $11.4 Million in July.
Bitcoin News Analytics from Tue, 16 Jul 2024 07:00:00 GMT to Sat, 03 Aug 2024 20:09:42 GMT -
Innovation 3
- Information 5
- Rumor -1
