Bitcoin News: Possible Breakout and Future Growth Projections

In the ever-volatile world of cryptocurrency, Bitcoin has once again captured the market’s attention with its ongoing recovery. Read on to find out if this upswing signals a continuation of the bull cycle or the beginning of a new phase, along with future growth projections by Bernstein analysts.

Bitcoin Ongoing Recovery: a Bull Trap or Breakout?

Bitcoin has maintained its upward trajectory this week, reclaiming and holding above the $85,000 mark. This weekly gain of approximately 4.7% indicates a possible shift in momentum. On-chain metrics and sentiment indicators are being analyzed to determine if the current recovery signals a continuation of the bull cycle or a transition into a new phase.

Bernstein Projects Strategy Holdings Skyrocket To 1 Million BTC By 2033

Analysts at Bernstein have predicted that MicroStrategy, now known as Strategy, could amass over 1 million Bitcoin (BTC) by 2033, potentially positioning it to hold 5% of BTC’s total supply. Based on Strategy’s strong Q4 financial results and recent aggressive Bitcoin purchases, Bernstein has assigned an “outperform” rating to Strategy’s stock (MSTR) with a price target of $600, suggesting a potential upside of 75% from its current trading level of $335.26, which has recently declined slightly by 2.09%.

GameStop to Adopt Bitcoin Reserves Plan

GameStop (GME) has unanimously approved adopting Bitcoin [BTC] reserves as part of its corporate strategy. This move aims to boost shareholders’ value by copying Strategy’s (formerly MicroStrategy) BTC playbook. Several figures, including Strive Asset Management CEO Matt Cole, had urged GME’s CEO Ryan Cohen to buy BTC with excess cash reserves. The update received mixed reactions, with Michael Saylor, the pioneer of BTC strategy, terming it a ’step in the right direction’.

GameStop Targets Crypto: $1B In Convertible Senior Notes For Bitcoin Purchase

GameStop, the video game retail company, announced plans to raise $1.3 billion to invest in Bitcoin (BTC) through the issuance of convertible senior notes. The stock price (GME) slid more than 8% in after-hours trading following the announcement. This move comes a day after GameStop shares surged nearly 12% when the company’s board approved an update to its investment policy, designating Bitcoin as a treasury reserve asset. Reports indicate that GameStop has been exploring cryptocurrency ventures for about a month.

ARI Wallet Daily Quiz - Which BIP Proposed SegWit?

AriChain Wallet, a blockchain-powered app, has been gaining attention since its launch. It offers simple tools for blockchain interaction and rewards users with coins. One of its popular features is the Daily Quiz. Today’s advanced question asks which BIP (Bitcoin Improvement Proposal) number proposed SegWit. The correct answer is BIP number which starts with ’BI’ (likely a typo for ’BIP 141’ or similar, as ’BI’ alone is not a valid BIP number). This quiz is a smart way to learn and earn about blockchain technology at the same time.