- BlackRock bought $2.5 billion worth of BTC in the last week.
- Institutional BTC buying continues to rise on the daily.
- Analyst expects Bitcoin to reclaim its $100,000 price value soon.
Pioneer crypto asset Bitcoin continues to stagger in the mid-$90,000 price range. Presently, the value of Bitcoin is moving sideways between $94,000 and $96,000. Despite this slow activity analysts are certain Bitocin BTC will hit $100,000 in the coming weeks ahead. Also anticipating the same, BlackRock bought $2.5 billion worth of BTC in the last week alone, taking advantage of inactive retail action.
BlackRock Bought $2.5 Billion Worth of BTC
Several Bitcoin advocates have shown their support by turning into true BTC beleies this cycle. In the previous cycle this mantle was held by the visionary Nayib Bukele, President of El Salvador. This leader set the standard. After making Bitcoin a legal tender before the bull market hit, El Salvador was able to make an incredible amount of profits by buying and holding Bitcoin legally.
Soon after seeing El Salvador’s success led by Bitcoin holding, others began to follow Bukele’s lead. Now, Strategy’s Michael Saylor us likely the most loud and proud Bitcon advocate in the space. Now only has Saylor led by example and continues to heavily accumulate Bitcoin (BTC), but he also regularly preaches the mission of Bitcoin and believes the price of Bitcoin will hit $1,000,000 one day, not so far off.
Despite the many dips and correctionsthis bull cycle, analysts remain certain the price of BTC will pump soon. However, no one seems to be more certain of Bitcoin’s price pump than Michael Saylor, except perhaps BlackRock. While Saylor has been loudly accumulating BTC, BlackRock has taken a more silent approach by continually buying more and more Bitcoin whenever the market presents an opportunity.
BTC Ready to Reclaim $100,000 Target
As we can see from the post above, BlackRock bought $2.5 billion worth of BTC in the last week alone showing the institutes unwavering faith in the crypto asset. The analyst who highlights this is Doctor Profit, a highly reputed trader who is known for his many silver-tongued crypto market predictions so far. He goes on to add that BlackRock continues to buy BTC while retails are either asleep, scared, or non-active despite several market opportunities.
He concludes saying that BlackRock, like himself, knowns what’s coming and that is the fact that the price of BTC will soon reclaim the $100,000 price mark and go on to soar to much higher 6-digit price targets soon. Furthermore, the analyst adds in another post that he is quite positive that the price of BTC will never fall below $100,000 about a year from now, and encourages traders and investors to take advantage of the 5-digit prices now before its gone for good.
