Investing.com
Published Sep 27, 2023 03:19AM ET
MicroStrategy, the US-based business intelligence firm, has purchased an additional $147 million worth of Bitcoin, a move that comes amidst a period of resilience for the cryptocurrency. This recent acquisition is noteworthy as Bitcoin has been able to maintain its value above $26,100, despite a downward trend and rising US Treasury yields impacting equity markets.
The influence of these interest rate effects has led to a slight growth of 0.58% for Bitcoin this month. In addition to this, September may mark the first time in seven years that the cryptocurrency does not experience a ‘red’ month, further indicating its robustness.
Alongside Bitcoin’s performance, Ethereum continues to fluctuate between $1,550 and $1,600 without breaching the upper limit. The global cryptocurrency market cap has slightly descended, with Bitcoin’s crucial support zone identified at $25,000.
Among other cryptocurrencies, Dogecoin and BNB have each risen by 1%, while Polygon fell 3%. The urgency for approval of an Exchange Traded Fund (ETF) related to cryptocurrencies has been communicated to the Securities and Exchange Commission (SEC) by four members of the US House Financial Services Committee.
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Written By: Investing.com
