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- Bitcoin continues its steady sideways movement towards the upside.
- Silver-tongued analyst highlights the many institutional BTC holdings in the space.
- He expects Microsoft to announce its Bitcoin investments next.
Bitcoin looks to be holding strong to the latter $60,000 price range as depicted by its steady higher sideways movement. This slow sideways movement was predicted by a popular and reputed analyst in the crypto space, Doctor Profit. He has repeatedly announced strong buy signals since Bitcoin’s sideways movement began in March.
Of course, Doctor Profit has been sharing buy signals for Bitcoin since it hit $17,000 in the bear phase of the crypto bear cycle. Since then, he has released strategic reports on X to advice his followers and new traders to make informed decisions in the volatile market that is crypto.
Microsoft’s Move to BTC
So far, the silver-tongued analyst has made many accurate predictions not limited to the price of Bitcoin (BTC). He also predicted many altcoin movements along with market psychology and financial market movements like the Fed rate cuts. Most recently, Doctor Profit is making another prediction related to a BTC investment by tech titan Microsoft.
Microsoft very likely to announce their investment into BTC by next quarter
— Doctor Profit 🇨🇭 (@DrProfitCrypto) October 24, 2024
Tesla announced they still hold all their BTC yesterday. BlackRock owns 5% of all BTC + 5% of Micro Strategy
Few notice these changes as price moves sideway since March..
According to Doctor Profit, Microsoft could very well announce their investment into BTC by the next quarter. This he reveals in his latest post as depicted above. Furthermore, the analyst goes on to highlight significant BTC investments made by other tech titans and financial giants in the space.
Institutional Adoption FUels Bitcoin Dominance
As we can see from the same post, Doctor Profit highlights Tesla’s announcement of still holding BTC despite the entity’s large BTC transfers to other wallets. With Tesla still holding its BTC, this indicates large pumps ahead. Moreover, the post mentions BlackRock owning 5% of the BTC supply along with MicroStrategy’s 5% of the BTC supply holdings.
Indeed, these are all highly significant holdings by reputed companies in the space. Mircosoft’s move into the BTC realm could create a huge ripple in the space that could trigger another significant BTC price pump. Meanwhile, some expect Dell to soon join the BTC bandwagon as well.