- Bitcoin recovers to $64,851, with Michael Saylor proposing a “Bitcoin collection” to Ronaldo.
- Iggy Azalea’s Mother Iggy memecoin gains traction, with a 15.2% increase in 24 hours.
As an analyst with over two decades of experience in the financial markets, I must say that the recent developments in the crypto space are nothing short of fascinating. Bitcoin’s resurgence to $64,851, following a brief dip, is a testament to its inherent strength and the growing faith in digital currencies.
Following a tough phase where its value dropped to $60,000, Bitcoin (BTC) has significantly bounced back.
At the moment of reporting, Bitcoin (BTC) was being exchanged for approximately $64,851 – a rise of 3.68% over the previous 24 hours.
Michael Saylor pitches BTC to Cristiano Ronaldo
Given this recent surge, Michael Saylor, a vocal supporter of Bitcoin and ex-CEO of MicroStrategy, has reached out to soccer legend Cristiano Ronaldo with a tempting offer related to a “Bitcoin portfolio.
Taking to X, (formerly Twitter), he noted,
“A #bitcoin collection would go well with that watch collection.”
Based on Ronaldo’s recent display on social media of his high-end watches, which were made in partnership with the American jewelry company Jacob & Co.
Saylor long-standing Bitcoin enthusiasts
Saylor’s commitment to Bitcoin is not unknown.
During a recent conversation with Bloomberg, he openly shared that he possesses approximately 17,732 Bitcoins, emphasizing that he hasn’t parted ways with any of them yet.
In addition to his own interests, MicroStrategy, Saylor’s company, is notable for being the biggest publicly-traded corporation holding Bitcoin. It has roughly $16 billion worth of Bitcoin assets, which includes about 252,000 coins. More than $1.5 billion of these coins were purchased in Q3 of 2024.
Significantly, a recent post by House of Chimera dated September 24 brought attention to MicroStrategy’s significant influence in the market.
It showed that it has surpassed tech giants like Apple, Microsoft, NVIDIA, and Amazon, further solidifying its status in the crypto landscape.
Ronaldo’s crypto journey
Meanwhile, in November 2022, Cristiano Ronaldo stepped into the world of cryptocurrency by introducing his own “CR7” NFT series. This move was made through a collaboration with Binance.
Regardless of being involved in a $1 billion class-action lawsuit concerning its NFT initiatives, Ronaldo launched his fourth NFT collection on Binance in May 2023.
Despite a significant drop in value by the end of 2023, approximately 95% of NFTs had seen their worth diminish or disappear altogether.
What’s behind Saylor’s pitch?
Well, Saylor has consistently promoted the leading cryptocurrency to high-profile figures.
Yet, the explosive rise of celebrity-backed memecoins appears to have spurred him even further.
Among them, the Solana-based token, affectionately known as Mother Iggy (MOTHER), has attracted considerable interest from the Australian rapper, Iggy Azalea.
Currently priced at $0.08926, MOTHER experienced a 15.2% rise in worth during the last 24 hours. As of today, approximately 990 million of its tokens are being traded actively on various markets.
As a keen observer in the crypto space, I can’t help but echo the sentiments of Ethereum co-founder, Vitalik Buterin. His recent expressions of discontent towards the swift rise of celebrity-endorsed memecoins are resonating with me. He’s voiced his concerns, and I find myself nodding in agreement.
“I’m feeling quite unhappy about with ‘this cycle’s celebrity experimentation’ so far.”
Bitcoin current trends
Amidst these conversations, Bitcoin’s community sentiment appears increasingly bullish, with indicators pointing toward continued market optimism as per CoinMarketCap.
Just as anticipated, the Relative Strength Index (RSI) is presently trending slightly above the non-biased mark of 60, indicating a potential surge in bullish trends.
As a researcher, I’ve noticed that the narrowing of the Bollinger Bands suggests a potential decrease in market volatility. This could imply that positive (bullish) market forces might strengthen relative to negative (bearish) trends in the upcoming period.
In unison, these signs point towards an increasing faith in Bitcoin, further strengthening optimistic feelings among its supporters.
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2024-10-14 23:04