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How Will Microstrategy Entering Nasdaq 100 Affect Bitcoin?
Microstrategy is the biggest corporate Bitcoin buyer, with 423,650 bitcoins per last revelation, and is now on the Nasdaq 100 Index. The popular index lists the top 100 largest non-financial companies, including global giants like Amazon, Apple, Nvidia, Meta, and more. This happened after the November 29, 2024, market snapshot found Michael Saylor’s company with a market cap of around $92B, making it the 40th biggest company on the Nasdaq 100.
Can Bitcoin Hit a New ATH with Microstrategy’s Achievement?
Michael Saylor is an active Bitcoin supporter and has sworn to buy Bitcoin despite the price. More importantly, he believes in this token’s potential, firstly about hitting the $100k mark and later reaching millions over the next few years. With such belief, Microstrategy has 234,650 BTC, worth $43 billion. With that, they have built their strong portfolio but are also building investor confidence, eventually favoring the token’s price growth.
At the time of reporting, Bitcoin is at $101.5k after moving 2% from the ATH of $103.9k. Although the difference is minor, the token is struggling to accomplish the same target again for days. However, the eyes are now on Michael Saylor’s inclusion in the Nasdaq 100 to affect the Bitcoin price positively. Interestingly, the BTC price has had a minor recovery on the charts past this news, reaching $102.5k earlier in the day. Interestingly, this was the biggest recovery since earlier ATH. Additionally, the buying pressure is strongly persistent on the token.
With this buying pressure, high adoption, talks of Bitcoin reserve in multiple parts of the world, Donald Trump’s inauguration, and many other factors, including this firm’s new achievement, the Bitcoin is to end the year on a positive note. More importantly, the Bitcoin price might hit $108.9K, before the year ends and higher in 2025.
CZ Summarised Michael Saylor Firm’s Strategy in Four Words
While sharing the news of the Nasdaq 100, including the business intelligence company, a popular strategist, Jeff Park, shared a one-page executive summary of the firm. The X post conveyed a summary titled “Theory of MicroStrategy,” but CZ summarised it into just words, joking about the Bitcoin-obsessed company. CZ commented, ‘Buy bitcoins and hold’ referencing Microstrategy’s strategies and kidding that they are all about buying this token. More importantly, he said his summary is shorter than the intro line.
My summary of MicroStrategy’s strategy (shorter than the intro line):
Buy bitcoins and hold.
https://t.co/9i5nUAlm7m
— CZ
BNB (@cz_binance) December 14, 2024
When Michael Saylor’s firm went on this Bitcoin buying mission, it received a lot of laughs from the people, but the same is gaining appreciation with Bitcoin price hitting $100k, bringing their BTC portfolio to $43.18 billion.
Bottom Line
Michael Saylor’s company began buying Bitcoin around four years ago, and in this time, it has built a wealth of $43.18 billion with one of the most promising crypto to buy. Its exponential growth has helped the demand growth persistently, leading to worldwide adoptions. With that, the Bitcoin price recently hit an ATH at $103.9k, and analysts believe the price to hit even $150k by 2025 end, in which Microstrategy might play a bigger role, especially with its inclusion in the Nasdaq 100. This milestone is likely to bring positive sentiments to the industry and the token. Additionally, there are many other factors which would contribute to this journey.
Pooja Khardia
With a deep-seated passion for reading and five years of experience in content writing, Pooja is now focused on crafting trending content about cryptocurrency market.
As a dedicated crypto journalist, Pooja is constantly seeking out trending topics and informative statistics to create compelling pieces for crypto enthusiasts. Staying abreast of the latest trends and advancements in the field is an integral part of her daily routine, fueling a commitment to delivering timely and insightful coverage
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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MUBARAK coin emerged as the latest hot buzz of the crypto sector, securing a prominent mark on traders’ and investors’ radars amid Binance founder CZ’s involvement in the meme coin. CZ recently hinted that he is Mubarak, a shilling cryptic move that sent shockwaves across the meme crypto industry. Now, with the crypto exchange titan itself revealing plans to launch a perpetual contract for the token, market sentiments over the crypto’s price prospects have turned highly bullish.
Notably, MUBARAK price is currently up 22% intraday in the wake of Changpeng Zhao spotlighting the token, further escorted by the CEX’s futures listing.
Mubarak Coin Gains Traction As It Secures Binance Listing
According to an official announcement dated March 17, Binance futures is launching a MUBARAKUSDT perpetual contract today at 13:30 UTC. The platform’s colossal user base remains primed to enjoy up to 25x leverage trading the new token.
This announcement by one of the top crypto exchanges ignited optimistic waves, paving the way for further investor interaction with the new asset. As market participants look to capitalize on emerging opportunities, a gush of money inflow into this meme token remains anticipated.
In turn, bullish market sentiments about MUBARAK coin’s price prevail across the broader market.
Is Binance’s CZ Mubarak?
CoinMarketCap’s data about this new token reveals that “CZ just subtly acknowledged that he’s Mubarak,” a cryptic move that sparked market discussions globally. On the other hand, a recent CoinGape report spotlights that CZ also bought $600 worth of the new meme coin, sparking a market frenzy.
When coupled with Binance’s futures listing, these developments add an extra layer of market optimism to the new token.
What’s More In The Listing Announcement?
Apart from enhanced trading support for MUBARAK coin, the crypto exchange behemoth unveiled Bubblemap’s (BMTUSDT) perpetual contract with up to 25x leverage. This announcement triggered 43% gains in the asset, reaching $0.1289, as indicated by the intraday trading chart.
MUBARAK Price Surges Over 20%
As of press time, MUBARAK price witnessed a 22% pump and exchanged hands at $0.09902. Notably, the coin hit an intraday peak of $0.1458, which was in sync with Binance’s announcement. Further, traders reacted positively to the abovementioned developments, as signaled by a 120% increase in the asset’s intraday trading volume to $165.45 million.
More Support From Binance?
Simultaneously, it’s noteworthy that in a previous announcement on Binance Alpha, the crypto exchange revealed support for the Mubarak coin. Binance Alpha is a platform featuring tokens that can be potentially considered for listings on the exchange moving ahead.
Overall, traders and investors anticipate potential gains in this newly launched token amid rising market demand and interest.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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24/7 Cryptocurrency News
Bitcoin Price Mirrors Gold’s 1970 Rally – A Six-Figure BTC Target of $250k Next?
Years after its inception, growing adoption and price rallies, Bitcoin gained the tag of the ‘digital gold.’ However, other than the name, there wasn’t much similarity until recently, as it began following the gold’s historical bull run pattern from the 1970s. With BTC trading at $83.2k and Gold near $3k, the parallel pattern between the two assets cannot be ignored.
If BTC moves on this bullish pattern, experts believe it could reach the anticipated six-figure $250k target. Let’s discuss the Bitcoin Vs gold trajectory and what this means for investors.
Bitcoin Vs. Gold: Bitcoin Price Mirrors Gold’s 1970s Bullish Pattern
In the mid-1970s, gold experienced a massive breakout after years of price consolidations. At that time, it resulted in exponential growth, and interestingly, Bitcoin went through a similar accumulation phase, followed by a period of consolidation.
More importantly, the Bitcoin Vs Gold chart analysis presents the Bitcoin price in the exact position that gold was before its explosive rally or bull run. Other than that, the major resistance levels have been tested multiple times, signaling an upcoming breakout.
Not to forget, the growing institutional adoption and U.S. Strategic Bitcoin Reserve formations show a similar influx of demand as with gold before its historic surge. As a result, investors anticipate an exponential rally to a six-figure high of $250k.
If the gold’s trajectory is followed, BTC can break out beyond $100k, as it has already set an ATH at $109k earlier. An extended Bitcoin bull run could push it towards $250k in the upcoming years.
Interestingly, many analysts and trading tools have shared similar Bitcoin price predictions, increasing the credibility of this Bitcoin vs gold pattern.
Bitcoin Price Chart Forms Descending Broadening Wedge, What’s Next?
Although the long trajectory for BTC remains optimistic, the current scenario is in a tough spot. The token currently trades at $83.2k and stands 24% away from its ATH per CoinmarketCap.
Interestingly, the BTC price chart was forming a bullish pennant pattern before but now has turned into a descending broadening wedge per analysts on the 1-hour time frame.
As a result, this indicates the increased volatility and the possibility of the breakout only if it breaks the resistance at $84.1K. The key resistance is $84.1k, so a breakout above this could trigger a rally. In addition, the key support is at $81k, so the maintenance of this level is crucial.
Bullish Pennant turned into Descending Broadening Wedge in 1h TF chart. Bulls need to clear the 84.1k resistance to confirm the breakout. I’m still bullish, says crypto analysts Captain Faibik
Interestingly, once the BTC crosses over the resistance, it could hit $86k-$88k in the short term and six figures in the long term.
Conclusion: Bitcoin to Hit Six Figures with Gold’s Bullish Pattern
The Bitcoin price action is similar to gold’s actions in the 1970s, which resulted in one of the biggest rallies. Further continuity of this pattern will result in a breakout. However, this is based on recent stats, so the trajectory may change with upcoming macroeconomic events like the U.S. Fed decision and market performance.
So, investors must cautiously analyze BTC’s trajectory, especially as it is in a descending broadening wedge pattern, where it needs to clear $84.1k to confirm the bullish uptrend.
Frequently Asked Questions (FAQs)
Bitcoin has followed similar price actions as gold did before its 1970s bull run, including accumulation and consolidation phases.
BTC currently trades at $$83.2k after following the descending broadening wedge pattern, pushing it into a temporary downtrend.
The key resistance for BTC lies at $84.1k, and a breakout above this could ensure an uptrend, but a collapse below the key support of $81k could result in a crash.
Pooja Khardia
With a deep-seated passion for reading and five years of experience in content writing, Pooja is now focused on crafting trending content about cryptocurrency market.
As a dedicated crypto journalist, Pooja is constantly seeking out trending topics and informative statistics to create compelling pieces for crypto enthusiasts. Staying abreast of the latest trends and advancements in the field is an integral part of her daily routine, fueling a commitment to delivering timely and insightful coverage
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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The crypto market concluded yet another week, primarily sparking investor optimism with recovering price trajectories. Bitcoin (BTC) price recovered from a $76K low to reach $84K right ahead of the U.S. FOMC next week. Whereas, major-league altcoins also mimicked price gains. The global cryptocurrency market cap again embarked upon a trajectory towards the $3 trillion mark as the week comes to an end.
Mentioned below are some of the top crypto market updates reported by CoinGape Media over the past week.
Crypto Market: Bitcoin Advancements This Week
The flagship crypto has witnessed significant developments over the past seven days, keeping investors optimistic despite price turbulence. Notably, global financial services firm Cantor Fitzgerald launched a $2 billion Bitcoin financing business, partnering with Anchorage Digital and Copper for secure institutional access.
On the other hand, Cathie Wood’s Ark Invest expanded its Bitcoin holdings, accumulating 997 BTC worth $80 million via Coinbase this week.
Also, despite the recent market turmoil, 95% of investors in the U.S. spot Bitcoin ETFs continue to hold onto their holdings. As a result, market watchers continue weighing optimism over long-term price prospects.
It’s also noteworthy that the Singapore Exchange (SGX) is planning to launch Bitcoin futures contracts shortly ahead.
Moreover, Deutsche Boerse’s post-trade unit Clearstream plans to launch Bitcoin & Ethereum custody services by the end of this year. Mentioned above are the top crypto market updates orbiting Bitcoin over the past week.
Are Prices Bracing For Macro Events?
Meanwhile, the broader market shows a recovery-like trend ahead of the U.S. FOMC next week. Set to occur on March 19, the monetary policymaking decision remains much eyed by investors globally.
Market-wide expectations of unchanged interest rates by the U.S. Fed prevail at the moment. Also, the latest U.S. CPI data indicated cooling inflation, offering some support to risk assets. In turn, traders and investors speculate whether a price recovery is possible after the turmoil caused by Donald Trump’s tariff saga.
Global markets, including crypto, took severe heat previously, although recent price actions signal that a recovery and bull cycle continuation might be on the horizon.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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