Bitcoin (BTC) price had a strong start into the week, rising to multi-month highs following a spike in institutional flows led by MicroStrategy, meanwhile fears of rising inflation continued to draw in more capital. Bitcoin Market Movers: MicroStrategy and Metaplanet Accumulate BTC MicroStrategy made headlines by adding $764.9 million worth of BTC to its treasury, right after a class action lawsuit was filed accusing the firm of breaching federal securities laws. Source: PomerantzLLP Japanese investment firm Metaplanet also acquired $104.8 million in Bitcoin which brought its total holdings close to the $1 billion mark. The two transactions by MicroStrategy and Metaplanet likely had the largest impact on the asset’s surge to $107,148. Investors See Bitcoin as a Hedge Against Rising Inflation Apparently, investors are hellbent on using Bitcoin as a hedge amid a growing concern of inflation and the potential of hawkish monetary policies. In their latest earnings call, Walmart… Read More at Coingape.com
The post Bitcoin Price Eyes $108K ATH as Economic Signals and ETFs Boost Rally appeared first on CoinGape.
