FMP

FMP

Enter

Michael Saylor's Reaction As of the latest CoinMarketCap data, Bitcoin is trading at $64,222, representing a 3.98% increase in the past 24 hours. This spike

Inflation

CPI Index

Bitcoin

MicroStrategy Chairman Michael Saylor has shared an epic reaction to Bitcoin's (BTC) rise on the release of the Consumer Price Index (CPI) data.

-

twitterlinkedinfacebook
blog post cover photo

Image credit: Kenny Eliason

Michael Saylor's Reaction

As of the latest CoinMarketCap data, Bitcoin is trading at $64,222, representing a 3.98% increase in the past 24 hours. This spike in Bitcoin's price is quite notable as the cryptocurrency has failed to cross the $64,000 mark in recent times.

Notably, the surge comes following the release of the U.S. Consumer Price Index (CPI) data, showing a 3.4% drop on a year-on-year basis. This data aligns with expectations from analysts, explaining the reason behind the spike in the price of Bitcoin.

Traders on index swaps are now anticipating a faster pace of rate cuts following the most recent CPI data. In addition, the Federal Reserve is expected to decrease borrowing costs in September and December.

As previously reported by U.Today, Saylor forecast that U.S. pension funds, which collectively manage more than $27 trillion in assets, will need "some Bitcoin."

What's Next for Bitcoin

During the recent dip in BTC's price, volume analysis showed increased buying activity. This indicates strong support from buyers at lower price levels.

Typically, this accumulation phase often precedes a price rally, as investors take advantage of lower prices to build their positions.

As investors await the next price levels for the leading digital assets, it is worthy of note that volatility is inherent to the crypto market.

Stay updated on the latest developments in the crypto market with the Crypto News API.

Other Blogs

Nov 25, 2023 6:39 AM - Parth Sanghvi

DCF Valuation vs. Comparable Companies Analysis: Choosing the Right Valuation Method

Choosing the Right Valuation Method: DCF vs. Comparable Companies Analysis Introduction: Valuation methods play a pivotal role in determining the fair value of a company, aiding investors in making informed investment decisions. Two commonly used methods, DCF Valuation and Comparable Companies A...

blog post title

Dec 23, 2023 2:19 AM - Parth Sanghvi

Understanding the Limitations of DCF Analysis: A Guide to Overcoming Challenges

Introduction: Discounted Cash Flow (DCF) analysis stands as a cornerstone in valuing investments, yet its efficacy is contingent upon various assumptions and methodologies. While a powerful tool, DCF analysis comes with inherent limitations and challenges that investors must acknowledge to make i...

blog post title

Dec 25, 2023 2:28 AM - Parth Sanghvi

Integrating Sustainability into Valuations: Navigating ESG Factors within the Discounted Cash Flow (DCF) Model

Introduction: The investment landscape is undergoing a profound shift with a heightened emphasis on sustainability and responsible investing. In this blog post, we explore the intersection of Environmental, Social, and Governance (ESG) considerations within the Discounted Cash Flow (DCF) model, h...

blog post title
FMP

FMP

Financial Modeling Prep API provides real time stock price, company financial statements, major index prices, stock historical data, forex real time rate and cryptocurrencies. Financial Modeling Prep stock price API is in real time, the company reports can be found in quarter or annual format, and goes back 30 years in history.
twitterlinkedinfacebookinstagram
2017-2024 © Financial Modeling Prep