MicroStrategy Buys $616 Million More Bitcoin; Major Options Expiry Could Drive Crypto Price Swings
• MicroStrategy bought 14,620 more bitcoin for $615.7 million, pushing its total holdings to 189,150 BTC worth $5.9 billion.
• ARK Invest bought 4.3 million shares of the ProShares Bitcoin ETF (BITO) after selling its Grayscale Bitcoin Trust shares.
• Bitcoin remains supported above $40,000 ahead of a major $7.7 billion BTC and $3.5 billion ETH options expiry on Friday.
• Social media sentiment is mostly bullish on altcoins like ether, with traders advised to watch for extremes typically marking interim tops.
• The total $11 billion options expiry on crypto exchange Deribit is the largest ever, potentially driving increased hedging and trading activity.