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Wednesday, October 27, 2021

Bitcoin Traders Happy As Price Rebounds

The price of Bitcoin surged to a three-month high of $46,293 with bulls confirming that they were looking to control the market. Although the traders of crypto could be in the green again and several pro traders were looking towards adding more leveraged positions, not every single investor could afford the direct exposure of the cryptocurrency.

As far as institutional investors go, a fund administrator has already put up the rules for whatever percentage of the portfolio would be invested in various companies as well as various asset classes- which seem to have their own differing appetites for risk. 

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One of the reasons why investors have been piling these assets rather than simply holding on to Bitcoin includes the restrictions mentioned above along with the regulatory uncertainty which surrounds the purchase of said cryptocurrency.

Due to this, there have been quite a number of entities that have kept themselves restricted from directly investing in BTC and other token currencies. Nevertheless, there are quite a few ways to make sure that one can obtain exposure in the crypto world. 

MicroStrategy’s Bet On Bitcoin Provides A Boost

MicroStrategy and its CEO Michael Saylor have been intrinsically connected with Bitcoin due to his wild support for the currency as a store of value. It also helps that his company bought massive amounts of BTC the previous year. MicroStrategy performs two important functions- it helps educate the entire world about the promise that BTC and blockchain technology provide. Also, they have also amassed a portfolio of BTC in excess of 105,000 BTC as a move against inflation. 

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According to data from TradingView, the cryptocurrency did reach an absolute low of $20.52 on the 20th of July- where the price of MARA has already reached an impressive 83%. This, unsurprisingly, makes MARA the best mining stock of Bitcoin over the last couple of weeks.

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