MicroStrategys’s latest Bitcoin purchase represents an important development for the crypto market. This is because it might encourage more institutional investors to jump on board.
the launch of Ledger Enterprise TRADELINK. The latter is a new solution designed for institutional crypto investors. In other words, Ledger’s new product is designed to cater to the needs of institutional users.
The Ledger development further adds to the list of observations currently supporting a more attractive crypto environment for institutions. The timing of these developments also aligns with the hopes of institutions jumping back onto the Bitcoin train through the recently filed ETFs. Ledger’s new offering is particularly interesting from the ETFs perspective. This is because it will make it easier for institutions to purchase Bitcoin in a self-custody manner even if the ETFs get shot down again.There is no doubt that the above developments are important for Bitcoin. For starters, MicroStrategy’s recent Bitcoin acquisition just added over $300 million to Bitcoin’s marketcap. Such a large purchase is enough to support a higher floor price.
Bitcoin reclaimed the $30,000 price range thanks to the rally it achieved in the last two weeks. It exchanged hands at $30,156 at the time of writing. Whale activity strongly supported the rally. Furthermore, addresses holding over 1,000 BTC have been buying during the same two-week period.
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