Bitcoin Uptrend Arriving? Michael Saylor Wants $711 Million BTC

Michael Saylor is focusing especially on Bitcoin. Strategy, his company, intends to increase BTC reserves by means of a Series A Perpetual STRF investment, therefore raising $711 million. Currently aiming to acquire up to 500,000 BTC—roughly 2.4% of the entire supply of Bitcoin—the business currently has 246,000 BTC.

Originally planned at 5 million shares, the offer was increased to 8.5 million based on great investor interest; shares cost $85.

Targeting $42 billion in capital over three years, Saylor's more general "21/21 Plan" signals aggressive accumulation that might restrict BTC supply and encourage a continuous price rise.

With $785.6 million in total inflows, Bitcoin ETFs attracted fresh interest last week. BlackRock's iShares Bitcoin Trust (IBIT), leading the pack, added 6,342 BTC—valuated at $535.5 million. Fidelity and VanEck matched in order to help to increase institutional exposure.

Friday by alone saw IBIT acquire 1,250 BTC ($105.5 million), while Grayscale's GBTC witnessed 260 BTC outflows. With $102.9 million in withdrawals, Ethereum funds shifted in the other direction—indicating capital rotation toward Bitcoin.

Additionally aligned with a significant transaction of 2,399 BTC valued over $250 million, the inflows generated conjecture in the crypto space.

On the 4-hour chart, Bitcoin is technically trading slightly around $84,600, grouping inside a symmetrical triangular shape. Closely matched to the 50-period EMA at $84,090, the $84,000 level has swung between support and resistance.

With price action closing, BTC seems set for a breakthrough. A clean move over $85,800 might set off a surge toward $87,400 and $89,000. Still, repeated failures close to the top of the triangle would encourage short-term sales.

On the down side, important support levels show around $83,000, $81,500, and $78,400. Still low volume indicates traders are waiting for a strong impetus.

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