BITCOIN (BTCUSD) – Week 44 – To the moon!
MicroStrategy has revealed that it bought additional 9,000 units of Bitcoin during the third quarter of the year, bringing the worth of its holdings to around $7 billion. According to the company’s Q3 report released on October 28, the intelligence firm holds a total of 114,042 Bitcoin at an average purchase price of $27,713, which roughly translates to over $3 billion. However, if its holdings are converted to the current price of the crypto king, which as of press time is above 60k, it means the worth of its BTC holding would be around $7 billion, meaning the company would make a profit of close to $4 billion if it chooses to sell its BTC.
Voyager Digital, a crypto trading broker, has entered into a five-year partnership with the NBA’s Dallas Mavericks, becoming the team’s first crypto brokerage and international partner. As part of the deal, Voyager and the Dallas Mavericks will work together via educational and community programs, as well as fan engagement promotions, to make cryptocurrency more accessible to a wider audience. The partnership also includes naming rights to the Mavs Gaming Hub, which is the official gaming and event venue for the Mavs NBA 2k League team. Details about this will be “announced at a later date,” according to the press release.
Technically, Bitcoin made a correction at this price zone as we were expecting and wrote about in the previous weekly reports. For this week, we give a high probability for this correction to be over and we expect a continuation to the upside.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
Voyager Digital, a crypto trading broker, has entered into a five-year partnership with the NBA’s Dallas Mavericks, becoming the team’s first crypto brokerage and international partner. As part of the deal, Voyager and the Dallas Mavericks will work together via educational and community programs, as well as fan engagement promotions, to make cryptocurrency more accessible to a wider audience. The partnership also includes naming rights to the Mavs Gaming Hub, which is the official gaming and event venue for the Mavs NBA 2k League team. Details about this will be “announced at a later date,” according to the press release.
Technically, Bitcoin made a correction at this price zone as we were expecting and wrote about in the previous weekly reports. For this week, we give a high probability for this correction to be over and we expect a continuation to the upside.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
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