Bitcoin Uptrend Incoming? – Michael Saylor Wants to Acquire $711 Million BTC
Bitcoin
Cryptocurrency
We believe in full transparency with our readers. Some of our content includes affiliate links, and we may earn a commission through these partnerships. However, this potential compensation never influences our analysis, opinions, or reviews. Our editorial content is created independently of our marketing partnerships, and our ratings are based solely on our established evaluation criteria. Read More
Michael Saylor is doubling down on Bitcoin. His firm, Strategy, plans to raise $711 million through a Series A Perpetual STRF offering to boost its BTC reserves. The company already holds 246,000 BTC and now aims to accumulate up to 500,000 BTC—roughly 2.4% of Bitcoin’s total supply.
The offering, originally set at 5 million shares, was expanded to 8.5 million due to strong investor demand, with shares priced at $85. Backed by major financial players like Morgan Stanley and Barclays, the move underscores institutional confidence in Bitcoin’s long-term value.
Saylor’s broader “21/21 Plan” targets $42 billion in capital over three years, signaling aggressive accumulation that could tighten BTC supply and support a sustained price rally.
Key Highlights:
- $711M raised via STRF equity sale
- Target: 500,000 BTC (2.4% of total supply)
- “21/21” plan aims to raise $42B
- Institutional backers include Barclays, Morgan Stanley
ETFs Draw $785M Inflows, Ethereum Lags
Bitcoin ETFs saw renewed demand last week, with $785.6 million in total inflows. Leading the pack was BlackRock’s iShares Bitcoin Trust (IBIT), which added 6,342 BTC—valued at $535.5 million. Fidelity and VanEck followed suit, contributing to rising institutional exposure.
On Friday alone, IBIT gained 1,250 BTC ($105.5 million), while Grayscale’s GBTC saw outflows of 260 BTC. Ethereum funds moved in the opposite direction, with $102.9 million in outflows—indicating capital rotation toward Bitcoin.
The inflows also coincided with a large transaction of 2,999 BTC worth over $250 million, prompting speculation in crypto circles. However, despite these bullish signals, Bitcoin’s price has remained muted, possibly due to profit-taking and short-term market hesitation.
ETF Snapshot:
- IBIT: +6,342 BTC for the week
- Friday inflows: +1,250 BTC (IBIT), -260 BTC (GBTC)
- Ethereum ETFs: -$102.9M outflows
- Large transaction: 2,999 BTC ($252M)
ETF flows suggest rising institutional interest, even as near-term price action remains cautious.
Bitcoin Consolidates Near $85K as Breakout Looms
Technically, Bitcoin is trading just under $84,660, consolidating inside a symmetrical triangle pattern on the 4-hour chart. The $84,000 level has flipped between support and resistance, closely aligned with the 50-period EMA at $84,090.
With price action narrowing, BTC appears poised for a breakout. A clean move above $85,800 could trigger a rally toward $87,400 and $89,000. However, repeated failures near the triangle’s top may invite short-term selling.
On the downside, key support levels are observed at $83,000, $81,500, and $78,400. Volume remains low, signaling traders are waiting for a decisive catalyst.
Technical Levels to Watch:
- Resistance: $85,800, $87,400, $89,000
- Support: $83,000, $81,500, $78,400
- 50 EMA (4H): $84,090
With macro and technical indicators aligning, Bitcoin is at a critical point—its next move could define the trend into Q2 2025.
Best Wallet Token ($BEST): Secure Crypto Management & High-Yield Staking
Best Wallet Token ($BEST) powers Best Wallet, an all-in-one crypto management platform for secure storage, trading, and staking. Available on Google Play and the App Store, it offers real-time investment insights and seamless staking, making it a go-to choice for crypto users.
Why Best Wallet Stands Out
- Early Access to New Projects – Invest in tokens before they hit major exchanges.
- Top-Tier Security – Built on Fireblocks’ MPC-CMP framework for maximum protection.
- Extensive Crypto Support – Over 1,000 cryptocurrencies supported.
- New Update (v2.4.5) – Users can now claim tokens directly in-app.
$BEST Token Highlights
- High-Yield Staking – Earn 146% APY on staked $BEST.
- Strong Community Trust – 182.3M $BEST staked.
- Growing Demand – $11.3M raised, price increasing soon!
With high staking rewards, strong backing, and advanced technology, $BEST is positioned as one of the most promising utility tokens in the industry.
- How Tether Co-Founder William Quigley Views Crypto Regulations in Trump’s Second Term
- Trump Appoints PayPal Veteran David Sacks as ‘White House AI and Crypto Czar’
- Expert Makes Bold Claim: XRP’s Future Price Is Already Locked In
- Sui Reveals Virtual Mastercard with xMoney and xPortal, Announces Physical Card
- Bitcoin Price Breakdown Alert – $78,000 Incoming as Head & Shoulders Pattern Confirmed
Best Bitcoin & Crypto Wallet
More Articles
in numbers
