Bitcoin Reaches New High of $70K Before Retracing; MicroStrategy Uses Debt to Buy More as Institutions Remain Bullish

Bitcoin surpassed $70K for the first time on March 8th, reaching a high of $70,170 before dropping back down

The price drop earlier this week was likely due to Grayscale Bitcoin Trust outflows and a large wallet selling 2010 mined coins

MicroStrategy continues acquiring more Bitcoin, raising $700M in debt to fund more purchases; it now holds nearly 200K coins worth over $13.5B

MicroStrategy CEO Saylor remains extremely bullish, stating "Bitcoin is the exit strategy" when asked about exiting their position

Bitcoin sentiment stays largely bullish as price sets new highs and institutional adoption continues to grow