The hardest working titles in cryptocurrencies
During two weeks of markets with strong fluctuations, battered by tariffs, BTC rose by 15%. At 7:53 a.m. (EST), BTC, having spent most of the night awake, was at a roadside motel smoking, unshaven, with only thirty dollars difference from a target it could be prouder of if it only got its act together.
Traders are optimistic that this time it’s real, that the United States and China are negotiating. There is a lot at stake. Some large companies, like Apple and GM, sounded the alarm on May 1 about rising production costs related to the trade war. Trump, for his part, has acknowledged that tariffs could make toys less affordable, while raising the idea of two dolls per child per year as a possible representation of a reasonably recalibrated level of demand.
A strengthening of demand for BTC is expected, largely thanks to Strategy (MSTR), the firm of Michael Saylor. The firm, formerly known as MicroStrategy and previously selling business intelligence software, has reinvented itself as a publicly traded vehicle for exposure to BTC and is raising another $21 billion aimed at wholesale purchases, after exhausting the previous $21 billion accumulated. “The injection of this new capital could drive new companies to establish their reserves in BTC,” FXStreet stated.
Meanwhile, Metaplanet, Strategy's Japanese protege, issued $24.7 million in zero-interest bonds to buy more BTC. Metaplanet currently has 5,000 BTC in its reserve.
