Bitcoin News Today: MicroStrategy Adds 430 BTC in August as Holdings Top $72 Billion

MicroStrategy’s continued accumulation of Bitcoin in August has drawn renewed attention to its strategic buy-and-hold approach. Michael Saylor, the company’s executive chairman, has signaled the possibility of a third purchase this month, reinforcing the firm’s bullish stance and contributing to growing market speculation about Bitcoin’s potential price trajectory. At current prices, MicroStrategy holds over 629,376 BTC, valued at more than $72 billion, with unrealized gains totaling $25.8 billion [1]. The most recent addition to its holdings occurred on August 18, with the acquisition of 430 BTC for $51.4 million [1].

The company’s August strategy has been more measured compared to its past large-scale purchases. Instead of multi-thousand BTC acquisitions, MicroStrategy has added 585 BTC through two separate purchases this month. This approach reflects a steady but deliberate commitment to Bitcoin as a long-term treasury asset [1]. Corporate treasurer Shirish Jajodia noted that such institutional buying does not significantly impact the overall market, given Bitcoin’s high daily trading volume of $50 billion [1]. He emphasized that large corporate holdings like MicroStrategy’s reduce the circulating supply and help establish a structural floor price, while short-term volatility remains driven by traders and macroeconomic factors.

Analysts have been increasingly vocal about Bitcoin’s long-term potential, with some forecasting it could reach $200,000 [2]. While this target remains speculative, it highlights a growing optimism among investors and market commentators. Michael Saylor, in particular, has made several bullish forecasts, including a prediction that Bitcoin could surpass $150,000 before the end of the year [4]. However, these should be treated as forecasts rather than certainties.

Despite the bullish sentiment, technical indicators suggest that Bitcoin remains under bearish pressure in the short term. The coin is trading within a descending channel, forming lower highs and lower lows. The 50-day exponential moving average (EMA) at $114,615 lags the 100-day EMA, indicating bearish momentum. Recent rally attempts have failed, with the most recent rejection at $116,800 [1]. The Relative Strength Index (RSI) sits at 33, nearing oversold levels, while the MACD histogram is negative, suggesting that sellers are still in control [1]. Key support levels are identified at $110,300, $108,600, and $105,150, while a breakout above $113,500 could trigger a retest of $116,800 and potentially set the stage for a broader rally toward $120,900 [1].

The market is closely watching for signs of a reversal, with chart analysts noting that a bullish engulfing candle or three white soldiers pattern near key support levels could spark a turnaround. For traders, the current setup suggests a cautious approach, with long positions advised above $113,500 and short positions below $110,300, while maintaining tight risk controls [1].

In the broader context, Bitcoin’s long-term prospects remain bright. Institutional inflows are rising, supply is tightening, and corporate treasuries like MicroStrategy’s continue to grow. Analysts believe that Bitcoin could surge past $130,000 in the next leg higher and potentially test the $200,000 target in the coming cycle [2]. While the $200,000 level remains out of reach for 2025, the ongoing confidence from institutional players and market analysts underscores Bitcoin’s evolving role in the global financial system [5].

Source:

[1] Strategy Eyes Third Bitcoin Purchase In August As ... (https://financefeeds.com/strategy-eyes-third-bitcoin-purchase-in-august-as-holdings-top-72-billion/)

[2] Price Analysis (https://cryptonews.com/news/price-analysis/)

[4] Bitcoin Price Prediction: $150K Before Next Bear Market? (https://cryptoweekly.co/news/bitcoin-price-prediction-150k/)

[5] Volatility is back on bitcoin. Between jolts and hesitation, ... (https://www.facebook.com/manuel.guevarra.369210/posts/volatility-is-back-on-bitcoin-between-jolts-and-hesitation-the-bullish-trend-rem/753595184220359/)