Key Points
- The holdings of Bitcoin (BTC) strategy, founded by Michael J. Saylor, reached $77.4 billion as the world’s largest cryptocurrency surged to $120,000.
- Record valuations have made companies outperform financial power companies such as Deutsche Bank and Lloyd’s in terms of market capitalization.
- BTC has overcome and rally the $120,000 physiological barrier.
- Crypto experts say prices are expected to continue.
The holdings of Bitcoin (BTC) strategy, founded by Michael J. Saylor, reached $77.4 billion as the world’s largest cryptocurrency surged to $120,000. The large holdings placed American business intelligence companies on top of major financial institutions such as Deutsche Bank. The BTC is expected to continue its bullish run amid growing expectations regarding the Fed cuts, increased institutional activity and the greatest sentiment.
Strategy’s Bitcoin Holdings reached $77.4 billion
Founded in 1989 by Michael J. Saylor, Strategy Inc., known as MicroStrategy, reached a valuation of $77.4 billion in BTC Holdings. Massive Feat was shared by Michael Saylor on X (formerly Twitter). According to the tweet, the company was launched with $250 million in Bitcoin and an unrealized loss of $0.040 million. Record valuations put the company on top of financial power companies such as Deutsche Bank and Lloyd’s. Market capitalization. 640,031 BTC is now folded, and it holds the largest Department of Digital Assets Treasury (DAT). This strategy provides business intelligence (BI) and mobile software. It is noteworthy that the rating for holding BTC exceeds GDP in countries such as Uruguay and Slovenia.
The strategy systematically builds the BTC reserve, adding 196 BTC on October 2nd. The surge in ratings occurred as follows: BTC prices Hit $120,000. The world’s largest cryptocurrency is currently bullish amid rising institutional activity and a favorable macroeconomic situation.
BTC will skyrocket to $120,000
BTC has overcome and rally the $120,000 physiological barrier. Surges are primarily the increase in institutional activity, the proposed BTC reserve in Sweden, and Fed rate reduction. Spot Bitcoin ETF saw an influx of $2.2 billion each week. FOMO is driving an increase in institutional activity due to the high hopes of reducing the Fed rate. Interest rate reductions are expected to cause a liquidity shift towards risky markets such as crypto. Furthermore, the proposal by Swedish lawmakers to create a BTC reserve has boosted investors’ confidence.
Amidst bullishness, the market capitalization of the world’s largest cryptocurrency skyrocketed to $2.39 trillion. The Fear & Greed Index is at 63, suggesting market sentiment. The 14-day relative strength index (RSI) is 64.42, and BTC is currently trading above the 200-day simple moving average (SMA). Technical indicators further strengthen the bullish run. Experts predict that prices will rise next week, reaching $129,954. On top of that, historically, October has been a lucrative month for BTC. The flagship digital coins have had a surge in prices over the past 12 years.
