If Billionaires Are Buying Bitcoin Hand Over Fist, Why Isn't the Price of Bitcoin Soaring?
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Billionaires and their funds keep adding to their Bitcoin (CRYPTO: BTC) stacks. Strategy's (formerly known as MicroStrategy) co-founder Michael Saylor is a cryptocurrency celebrity purely on the basis of his reliably gargantuan purchases of the big orange coin. Tim Draper is again predicting "infinity" for the price, saying the dollar will collapse long before Bitcoin runs out of buyers.Yet the coin has spent most of July with its price meandering between $101,000 and $108,000. The disconnect between highly bullish billionaires and humdrum price action raises a fair question for long-term investors: If heavy hitters are accumulating, why is the market treading water?Here's what's going on.Continue readingWeiter zum vollständigen Artikel bei MotleyFool
Quelle: MotleyFool