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The move comes as bitcoin is proving its resilience amid tariff turbulence and market volatility, decoupling from risk assets. This morning, bitcoin crossed $94,000 for the first time since March 2. The price also lifted bitcoin’s market cap to $1.86 trillion, surpassing Amazon’s market cap of $1.84 trillion.
Bloomberg reported that Tether “will contribute $1.5 billion of Bitcoin, while Tether-affiliated exchange Bitfinex and SoftBank plan to put in $600 million and $900 million of the cryptocurrency.”
Several companies are emulating Michael Saylor’s Strategy — the largest corporate bitcoin holder, with 538,200 bitcoin — including Japanese publicly listed Metaplanet, which has been on a relentless buying spree, now holding 4,855 bitcoin.
There are now a whopping 705,117 public companies holding bitcoin as part of their treasury, representing 3.3% of the total bitcoin supply, which underscores a significant shift in perception of the asset.
Nic Puckrin, founder of Coin Bureau, said that bitcoin is now rallying as it appears the US and China might come to some sort of agreement on the trade war. Meanwhile, earlier in the week, it was rallying because the US dollar was crashing.
“It seems that suddenly, any news is good news for bitcoin, which makes me far more optimistic that it will soon be able to regain that $100,000 threshold,” he said.
He added, though, that there’s a strong chance it will face resistance on the way up.
“In fact, if it hits $95,150, this will create a double-top pattern, which could send bitcoin back toward the $92,000-$93,000 support level before it attempts to breach $100,000 once again,” Puckrin said.
The move comes as bitcoin is proving its resilience amid tariff turbulence and market volatility, decoupling from risk assets. This morning, bitcoin crossed $94,000 for the first time since March 2. The price also lifted bitcoin’s market cap to $1.86 trillion, surpassing Amazon’s market cap of $1.84 trillion.
Bloomberg reported that Tether “will contribute $1.5 billion of Bitcoin, while Tether-affiliated exchange Bitfinex and SoftBank plan to put in $600 million and $900 million of the cryptocurrency.”
Several companies are emulating Michael Saylor’s Strategy — the largest corporate bitcoin holder, with 538,200 bitcoin — including Japanese publicly listed Metaplanet, which has been on a relentless buying spree, now holding 4,855 bitcoin.
There are now a whopping 705,117 public companies holding bitcoin as part of their treasury, representing 3.3% of the total bitcoin supply, which underscores a significant shift in perception of the asset.
Nic Puckrin, founder of Coin Bureau, said that bitcoin is now rallying as it appears the US and China might come to some sort of agreement on the trade war. Meanwhile, earlier in the week, it was rallying because the US dollar was crashing.
“It seems that suddenly, any news is good news for bitcoin, which makes me far more optimistic that it will soon be able to regain that $100,000 threshold,” he said.
He added, though, that there’s a strong chance it will face resistance on the way up.
“In fact, if it hits $95,150, this will create a double-top pattern, which could send bitcoin back toward the $92,000-$93,000 support level before it attempts to breach $100,000 once again,” Puckrin said.
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