Scottie Pippen Expresses His Excitement for the Bitcoin (BTC) Surge

NBA legend Scottie Pippen recently expressed his excitement for the surge in Bitcoin (BTC) price. By Pintu News.

Recently, NBA legend Scottie Pippen expressed his excitement for the surge in Bitcoin (BTC).

Damn it feels good to be a Bitcoin BULL

— Scottie Pippen (@ScottiePippen) January 25, 2024

Indeed, with the price of Bitcoin (BTC) touching $105,700 today, many are interested in learning more about the dynamics behind this price movement and its impact on the global market.

Bitcoin Price Spike: A Global Tariffs Deal

This surge in Bitcoin (BTC) price comes after representatives of the US and Chinese governments reached an agreement in Geneva to reduce trade tariffs for 90 days.

This agreement aims to ease international tensions that have affected global trade and financial markets. According to data from Santiment, this announcement had an immediate positive impact on Bitcoin (BTC) prices and major stock indices. The market reacted quickly with a significant increase in the value of Bitcoin (BTC).

However, Santiment emphasized the importance of waiting for an official statement by Donald Trump regarding the details of this deal. The tariff reduction is expected to provide more room for economic growth for both countries and strengthen the Bitcoin (BTC) exchange rate in the global market.

Metaplanets and Bitcoin Dominance

Japanese company Metaplanet has announced a new Bitcoin (BTC) purchase that makes them the holder of more Bitcoin (BTC) than El Salvador.

Announcing the purchase of 1,241 Bitcoin (BTC) for $125.3 million, Metaplanet now has a total of 6,796 Bitcoin (BTC) in its long-term portfolio at an average price of $90,243. This pushes them past El Salvador which is known to hold 6,714 Bitcoin (BTC).

Metaplanet CEO, Simon Gerovich, also shared on Twitter that they are continuing to follow the Strategy playbook in accumulating Bitcoin (BTC). With a price per Bitcoin (BTC) purchased of around $100,967, this investment shows Metaplanet’s commitment to Bitcoin (BTC) as an asset of the future.

Bitcoin Holdings Comparison: Strategy vs BlackRock

While Metaplanet and El Salvador have shown impressive growth in their Bitcoin (BTC) holdings, another major player is Strategy, formerly known as MicroStrategy. They are currently holding 555,450 Bitcoin (BTC) which is valued at almost $58 billion.

However, Strategy now lags behind BlackRock’s Bitcoin ETF iShares which is estimated to hold nearly 572,000 Bitcoin (BTC) according to recent reports. This large stake by BlackRock highlights how major financial institutions are increasingly adopting Bitcoin (BTC) as part of their investment portfolios.

It also signals an important shift in how the market views Bitcoin (BTC) as a viable and profitable investment asset despite the recent volatility in crypto markets.

Get Updates On Your Favorite Crypto Now!

With endorsements from big names like Scottie Pippen and global companies continuing to increase their investments in Bitcoin (BTC), the future of the cryptocurrency is looking brighter than ever.

Significant price increases and adoption by large entities show that Bitcoin (BTC) is increasingly accepted as a mainstream asset and not just a speculation tool.

This article is written with the aim to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by any parties. An asset’s past performance does not determine its projected future performance.

Crypto trading activities are known for high risk and volatility. Always perform your own research and use ‘cold cash’ before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

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