#MicroStrategy Increases BTC Holdings
Alert!!! Alert!!!
Bitcoin has dropped! Is BlackRock's warning coming true?
Bitcoin briefly surged to $70,000 at the beginning of the month but then plummeted, causing its total market value to shrink by $300 billion, dashing hopes for the $4 trillion milestone!
This decline is directly linked to the high-interest rate warning issued by US Treasury Secretary Janet Yellen at the beginning of the month. She mentioned that high interest rates make it difficult for the fiscal department to manage deficits and interest expenses, potentially leading to a collapse of cryptocurrencies like Bitcoin.
This statement struck a nerve with crypto investors, resulting in a painful downturn in crypto market assets.
BlackRock, the largest issuer of Bitcoin ETFs, also warned that unprecedented situations would impact Bitcoin prices and markets.
BlackRock analysts stated that central banks worldwide need to maintain higher interest rates than pre-pandemic levels to address inflationary pressures, and this chaotic situation is expected to persist for a long time.
Bitcoin's price trend reflects this sentiment. After reaching a high of $71,907 on June 7, it has fallen by about 10%. Currently, Bitcoin is trading at $64,319.
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