Is a new Bitcoin mega-purchase imminent? A cryptic post by Michael Saylor on the social media platform X could indicate this.
“Needs even more Orange” – Saylor’s cryptic post could indicate a planned Bitcoin mega-purchase
Michael Saylor, CEO of Strategy (formerly MicroStrategy), published a cryptic post on the social media platform X (formerly Twitter) on March 30th that could indicate a possible new Bitcoin mega-purchase. Specifically, the avowed Bitcoin fan captioned an image of the Bitcoin chart: “Needs even more Orange.”
Analysts and investors are now speculating whether he might announce a new mega-buy of Bitcoin tomorrow. The orange dots highlighted in the article could refer either to the development of Bitcoin itself – or to previous purchases by Saylor and other fans of the crypto pioneer. Since its launch in 2009 by the unknown Satoshi Nakamoto, the cryptocurrency has had orange as its brand color.
One thing is clear: Saylor is unlikely to suddenly stop investing in the coin. Strategy holds the most Bitcoin of any company. Since beginning purchases in 2020, the software manufacturer has been able to purchase more than 500,000 BTC, equivalent to approximately $41 billion.
Bitcoin Ups and Downs – How is the Cryptocurrency Developing?
Bitcoin predictions are, as always, difficult. At the time of writing, the cryptocurrency is trading at around $82,600, down 0.08 percent within 24 hours. The coin has also fallen over the past seven days – by 2.81 percent. Only in the monthly review has BTC recorded a cautious gain of 0.86 percent.
Many investors are currently unsure whether buying Bitcoin is worthwhile. Price corrections and market crashes are natural and offer entry opportunities. However, some fear that the digital currency will fall even further.
A key resistance area is located between $83,000 and $84,000. If BTC breaks these price levels, upward pressure could cause the price to rise further. However, the coin is currently testing the support level at $82,000. According to surveys, 82 percent expect a bullish phase.
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