Bitcoin price is trading at $104,500 on Monday, inching up around 0.10%, buoyed by growing institutional confidence. Michael Saylor, executive chairman of MicroStrategy, has teased another Bitcoin acquisition, potentially the firm’s first purchase at an average price exceeding $100,000.
Saylor’s post on X on December 15 hinted at the company’s continued aggressive accumulation.
In the past three weeks, MicroStrategy has added $7.2 billion worth of Bitcoin, with an average acquisition price between $95,976 and $98,783. If the latest purchase is confirmed, the company’s holdings would rise to 423,650 BTC, valued at approximately $50 billion.
This development underscores institutional confidence in Bitcoin as a long-term asset, fueling its rally past $106,000.
Trump’s BTC Reserve Plans Could Send Bitcoin Price to $800K
Optimism surrounding Bitcoin intensified after reports that U.S. President-elect Donald Trump might issue an executive order designating Bitcoin as a U.S. reserve asset.
This move, proposed under the 2024 Bitcoin Act, would mandate annual Bitcoin purchases of 200,000 BTC for five years—removing nearly 5% of the total supply from circulation.
According to experts like Perianne Boring, this policy could push Bitcoin’s price to $800,000 by the end of 2025, driven by Bitcoin’s capped supply and rising institutional demand.
Further strengthening the outlook, BlackRock has encouraged investors to allocate 1-2% of their portfolios to Bitcoin, adding credibility to its role as a strategic reserve asset.
Reports of Trump’s stance have fueled Bitcoin’s surge, with prices rising over 50% since the election. Trump’s pro-crypto policies, alongside global de-dollarization efforts by countries like Russia, are driving renewed interest in Bitcoin as a financial hedge.
Bitcoin Price Path to $110K as Momentum Strengthens
Bitcoin broke past $106,533, supported by speculation about strategic Bitcoin reserves and MicroStrategy’s growing accumulation.
The ongoing rally has been further fueled by bullish sentiment in the broader crypto market, with Ether (ETH) also rising 3% to $4,014.
Key Technical Levels:
Immediate Resistance: $106,500, followed by $108,000 and $110,000. Immediate Support: $103,648; deeper levels at $101,675 and $100,691 (aligned with the 50 EMA).The Relative Strength Index (RSI) stands at 72, signaling overbought conditions. Despite this, Bitcoin remains well-supported within its upward channel, maintaining bullish momentum.
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Key Details for Investors
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