Crypto Daily – ($BTC) is continuing to rise to new highs. On Tuesday, the world’s premier cryptocurrency stopped just short of $94,000, with yet another all-time high. Is this buoyant price action set to continue, or is a top approaching?
Buying frenzy continues
At least as far as purchases of $BTC goes, things are extremely positive for those holding Bitcoin. Heavy buying has taken place over the last few days, and this looks as though it will continue.
Michael Saylor’s MicroStrategy has bought almost 78,000 BTC, in two tranches, in less than two weeks. No sooner had MicroStrategy made the second purchase, the company announced that it was making a $1.75 billion debt offering with which to buy more.
The idiom “it never rains but it pours” could be used to describe the frenzy of buying that is now taking place for the scarcest major asset in the world.
If just one company can buy up the equivalent of almost 6 months of Bitcoin issuance in the…
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