Suggesting price uptrend to 13,000 Dollar on Friday, BTC is checking for low resistance
A huge investor fail in Futures on CME leads to record high of $841 Million open interest. If BTC stays higher than 11,000 these contracts will be shortened and have to be filled with BTC leading into a huge interest buy-in BTC which feeds the bullish trend everyone sees.
On August 11, MicroStrategy Incorporated (NASDAQ: MSTR) announced that it purchased 21,454 BTC at the price of $250 million. In the press release, Michael J. Saylor, CEO of MicroStrategy, revealed the company’s confidence in Bitcoin with the recent investment. He referred to Bitcoin as the most widely-adopted digital asset with more appreciation potential than cash. Read the full story here.