MicroStrategy aggressively increased its BTC holdings to $2.1 billion, continuing five weeks of frantic buying, with no one able to shake Bitcoin's long-term value.
QCP Capital pointed out in its latest report that Bitcoin has shown impressive resilience, maintaining its current price around $97,500. Despite a slight pullback from $94,500, the strong rebound in the market demonstrates Bitcoin's deep support.
This adjustment occurred after Microsoft shareholders rejected a proposal to allocate 1% of total assets to Bitcoin. Although this proposal aimed to use Bitcoin as a hedge against inflation, Microsoft's abandonment did not have a lasting negative impact on the market. On the contrary, MicroStrategy continues to double down, increasing its Bitcoin holdings by another $2.1 billion for the fifth consecutive week, solidifying its $42 billion strategic investment plan. This move not only provides strong support against Bitcoin's downturn but also hints at more acquisitions potentially on the horizon.
Meanwhile, lobbying groups in the crypto industry are applying pressure on SEC Commissioner Caroline Crenshaw regarding her controversial anti-crypto stance, with the Senate set to vote on her position soon. The Republicans view this vote as a resistance to the SEC reforms pushed by Trump, aiming to transform the SEC into an institution that supports innovation and digital assets.
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