As of today, Sunday afternoon, the price of Bitcoin (BTC) is trading in slightly negative territory, trading at $63,700. However, during the past week we can say that the price of the main cryptocurrency grew by almost 1%.
As of today, Sunday afternoon, the price of Bitcoin (BTC) is trading in slightly negative territory, trading at $63,700. However, during the past week we can say that the price of the main cryptocurrency grew by almost 1%.
Digging deeper into the BTC price chart, we can see that from the week’s lows of $56,552 to highs of $64,734, Bitcoin is up 14.3%. This is a fairly solid result for an asset whose capitalization exceeds $1.25 trillion.
In the midst of these market movements, Michael Taylor, a prominent cryptocurrency advocate, made an important statement titled “Bitcoin emerges.” The statement, characteristic of Saylor’s continued support for the cryptocurrency, signals a notable moment in the current Bitcoin narrative.
MicroStrategy Macro Steps
In addition to Saylor’s announcement, MicroStrategy, the company he runs, unveiled a new development known as MicroStrategy Orange earlier this week. This open source decentralized identity protocol uses Bitcoin’s Segregated Witness capabilities, enabling efficient storage of DID-related data with minimal size and content restrictions.
As for MicroStrategy’s Bitcoin holdings, the company revealed impressive numbers in its latest earnings report. With 214,400 BTC valued at over $7.5 billion, the company continues to assert its position as one of the largest holders of BTC.
Notably, the company increased its holdings by acquiring an additional 122 BTC for $7.8 million in April, further strengthening its cryptocurrency reserves. Despite a 5% decline in year-over-year revenue, totaling $115 million, MicroStrategy remains focused on its Bitcoin-centric approach.
