The latest BTC purchase from Microstrategy is moving the Bitcoin Prize

• Bitcoin defends the $ 26,000 after the latest BTC purchase of Microstrategy.
• concern about the effects of the US dollar on BTC could be overestimated by investors.
• Coinbase holds about 5 % of the total bitcoins in circulation.

The latest takeover of Bitcoin by Microstrategy worth almost $ 150 million caused a sensation on the cryptocurrency market and led to a significant shift in Bitcoin's price dynamics.

With this step, Microstrategy, a well-known business intelligence company, under the direction of CEO Michael Saylor, demonstrated his strong commitment to Bitcoin. The latest Bitcoin purchase triggered waves in the world of cryptocurrencies.

an increase in the Bitcoin price

BISTCOIN had briefly fallen below the $ 26,000 mark before the Mircostrategy announced the BTC takeover by Mircostrategy, which has been moving for a week. However, as soon as the news about the purchase became known, the Bitcoin price experienced a significant upward movement, won several hundred dollars and reached a daily high of $ 26,421.51 In addition to the purchase of Microstrategy, the Chinese People's Court of Shanghai recently made an important announcement in which Bitcoin recognizes it as a special digital currency, despite the ban on cryptocurrencies in the country. In particular, this recognition has attracted attention by the fact that Justin Sun, the founder of Tron, attention to the recent publication of Shanghai No. 2 Intermediate People’s Court, in which the most important features of Bitcoin are presented.

The court in Shanghai clearly differentiated bitcoin from virtual objects such as Q coins and emphasized its unique properties. This includes the scarcity of Bitcoin, the widespread global acceptance and the inherent monetary properties. This recognition represents a remarkable departure from China's traditional classification of cryptocurrencies primarily as speculative investments.

The recognition by the Shanghaier People's Court marks a change in the official perception of Bitcoin in the Chinese legal system. While the ban on cryptocurrencies in China continues to be in force, this recognition of the special nature of Bitcoin as a digital currency means a differentiated perspective on its role and importance within the wider financial landscape. It illuminates the developing discourse over cryptocurrencies in China and its potential benefits that go beyond speculation.

The resistance of Bitcoin

Despite the volatility in the past few weeks, Bitcoin has demonstrated its resistance. Last week he reached a 20-day high with $ 27,500 to experience a decline from $ 26,400 at the end of the business week, which was partly due to the most recent meeting of the US Federal Reserve.

The weekend remained relatively stable, with Bitcoin held a level of around $ 26,600. However, Monday began to Bärisch, which led to a temporary decline under $ 26,000.

The announcement of Microstrategy acted as a catalyst and helped Bitcoin to recover from this low. The continuous accumulation of Bitcoin by Microstrategy strengthens the position of the company as an important institutional investor in cryptocurrency, but also underlines the growing acceptance of Bitcoin as a valuable digital asset.