U.S. banks increase investment in MicroStrategy. Where will th | CRYPTO TREYSI

U.S. banks increase investment in MicroStrategy. Where will the price of BTC go?
⠀
One of the world's largest investment firms, BlackRock, is about to launch an exchange traded fund (ETF) for bitcoin. This is an important step for the market, as the fund will now allow investors to buy bitcoin in the form of ETF shares from a regular brokerage account. As of the end of March, BlackRock had more than $9 trillion under management.

The second largest U.S. bank, Bank of America, which manages more than $3 trillion in assets, invested an additional $59.5 million in MicroStrategy (which holds 140K BTC worth more than $3 billion). Its stake in MSTR has now grown to 2.3%.

Another huge company, Fidality, with $4.5 trillion in assets, also increased its stake in MicroStrategy by 28,000% and now owns 1% of MSTR.

And Canada's sixth-largest National Bank bought $500K worth of MicroStrategy stock this year. And Standard Chartered Bank predicted a long phase of BTC growth in 2024.

With the price of BTC down 60%, there was an opportunity for a very nice entry point for the whales. There is no longer any doubt that they are betting on the long-term growth of the asset's price.

Do you think a bull market is close?

- YES
- NO

#news

CRYPTO TREYSI | Subscribe