kellenpeet27 on Nostr: Market Update: Bitcoin Price - $82,509 Happy Monday, friends! What a weekend! We’ve ...
Market Update: Bitcoin Price - $82,509
Happy Monday, friends! What a weekend! We’ve officially entered price discovery territory. After a very brief consolidation following Trump’s victory, Bitcoin surged past $80,000 over the weekend, eventually settling near $82,000 this morning. The rise underscores the impact of accelerating institutional demand on this finite asset. It will be fascinating to watch how quickly Bitcoin’s price continues to climb as more institutions jump on board.
Newsflash:
MicroStrategy just announced a purchase of 27,200 more bitcoins for approximately $2.03B. Acquired between October 31st and November 10th, this purchase brings the company’s total holdings to around $23B at today’s price.
Yet another milestone for Bitcoin ETFs: IBIT hit its highest trading volume ever, reaching $4.1B and outpacing heavyweights like Netflix, Berkshire Hathaway, and Visa.
Short sellers betting against Bitcoin ETFs and proxies are feeling the pain, with losses now exceeding $8B this year. Will they ever learn?
Not So Conventional Wisdom:
No need for price anchoring—it's okay to buy even if the price keeps rising! Of course, this isn’t financial advice, just the musings of your not-so-genius author.
Quote of the day:
“Investing is the intersection of economics and psychology.” - Seth Klarman
Interesting Resources:
Bitcoin on the Ballet - John Arnold (Ten31 VC)
Happy Monday, friends! What a weekend! We’ve officially entered price discovery territory. After a very brief consolidation following Trump’s victory, Bitcoin surged past $80,000 over the weekend, eventually settling near $82,000 this morning. The rise underscores the impact of accelerating institutional demand on this finite asset. It will be fascinating to watch how quickly Bitcoin’s price continues to climb as more institutions jump on board.
Newsflash:
MicroStrategy just announced a purchase of 27,200 more bitcoins for approximately $2.03B. Acquired between October 31st and November 10th, this purchase brings the company’s total holdings to around $23B at today’s price.
Yet another milestone for Bitcoin ETFs: IBIT hit its highest trading volume ever, reaching $4.1B and outpacing heavyweights like Netflix, Berkshire Hathaway, and Visa.
Short sellers betting against Bitcoin ETFs and proxies are feeling the pain, with losses now exceeding $8B this year. Will they ever learn?
Not So Conventional Wisdom:
No need for price anchoring—it's okay to buy even if the price keeps rising! Of course, this isn’t financial advice, just the musings of your not-so-genius author.
Quote of the day:
“Investing is the intersection of economics and psychology.” - Seth Klarman
Interesting Resources:
Bitcoin on the Ballet - John Arnold (Ten31 VC)