Thursday, July 29

Will MicroStrategy Evaluate Bitcoin’s (BTC) Drop?

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The leading cryptocurrency Bitcoin (BTC) fell more than 5% from $37,466 to $35,480 on the Kraken exchange today.

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My downfall was probably due to some negative news about cryptocurrencies the day before. WazirX, the largest crypto exchange in India owned by Binance, has been investigated by the Executive Directorate for money laundering allegations.

Apart from this, there was another negative development. Pieter Hasekamp, ​​head of the Dutch Central Planning Bureau (CPB), urged the Dutch government to ban Bitcoin and other digital currencies as they are not issued by state financial institutions and are beyond any borders.

The “Bitcoin Archive” Twitter account, with 326.3k followers, believes MicroStrategy will start buying from the bottom with $500 million in debt they have recently collected. However, in the same tweet, he also expressed doubts that the company’s CEO, Michael Saylor, would spend $500 million on Bitcoin in the current low-volume market.

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