Bitcoin Touching $105K
Bitcoin has been moving up over this Sunday evening touching $105K, a price not really seen since January of this year. Since Bitcoin has been able to stay above $100k, which is a big mental level for investors, bullish sentiment has increased among investors and brought in more buyers. Reports of countries and companies buying have also pushed the price up however todays pump many be tied to reports that indicate easing trade tensions between US and China as they have been meeting over the weekend and talks seem to be going well so far. With Bitcoin trading within 5% of its all time high of $109K FOMO becomes real which in turn encourages more investors to buy and join the party.
19 Days and Counting
Blackrock who runs the biggest Bitcoin ETF has now posted 19 consecutive days of inflows on its ETF that started on April 14th. 19 days marks the longest streak of the year with a reported $1.03 billion of inflows coming in from last week alone. Huge funds and investment banks have recently come out and stated they own and are buying IBIT on a recurring basis. Add this buying to Blackrock recommending a 1% to 2% Bitcoin allocation to their clients and it's easy to see why Bitcoin price is increasing.
MSTR Buying More
Based on how MSTR was trading on Friday most had a strong feeling he was selling share at the market (ATM) to buy more Bitcoin. How much was sold or what other financial products were tapped for cash to buy more Bitcoin? We will find out tomorrow when he announces the buy. Saylor continues with his promise to buy Bitcoin on a continuing basis not matter the price.
Quick Hits
- Tim Draper, billionaire venture capital investor states it's irresponsible for business not to buy Bitcoin, predicts $250k Bitcoin price in 2025.
- River Financial state more american now own more Bitcoin than Gold. This is just the beginning.
- Conor McGregor planning to meet with El Salvador's President to discuss setup a Bitcoin strategic reserve in Ireland.
- Goldman Sachs disclosed they own $1.65 billion of Bitcoin ETFs vast majority in IBIT.
- Metaplanet issues $21.25 million in bonds to buy more Bitcoin.
