According to the official release, Michael Saylor’s strategy was to buy 4,980 Bitcoin (BTC) for $531.9 million. The company purchased each coin for an average of $106,801. The company currently holds a total of 597,325 BTC, worth a whopping $424 billion. As of today’s prices, Strategy’s BTC Holdings averages $70,982 per coin.
Bitcoin faces resistance at $108,000
BTC is currently facing resistance at $108,000. Assets are struggling to break this price barrier. The original code faces a revision of 0.4% on daily charts. Despite the slightest dip, BTC is trading in the green zone in other time frames. BTC is up 6.4% on the weekly chart, 0.9% on the 14-day chart, 4.1% on the monthly chart, and 75.5% on the previous year.
BTC ETFs have also seen a consistent influx in recent weeks. The influx even occurred when the crypto market was facing considerable uncertainty in the global geopolitical tension and trade wars. The Spot BTC ETF saw an influx of $2.22 billion from June 23rd to June 27th. The Federal Reserve’s decision not to change interest rates did not prevent the system from flowing in.
BTC is currently down just 3.6% from its all-time high of $111,814. If assets continue on an upward trajectory, they can quickly reach new history highs.
The current meetings of the BTC may be driven primarily by institutional money. Retail investors may still be uncertain about the global economic environment. Retail investment could increase if the Federal Reserve cuts interest rates and makes borrowing easier. President Trump repeatedly laughed at Federal Reserve Chairman Jerome Powell for not lowering interest rates. If President Trump persuades Powell to lower interest rates, the crypto market may see a sudden rise in retail money.
