Bitcoin once again exceeded $ 50,000 for the second time in history. The cryptocurrency surpassed $ 50,400 on Monday morning as MicroStrategy doubled its support for the leading digital asset.
The cryptocurrency has begun to flirt with this landmark price level in the past 30 minutes and has jumped above $ 50,000.
As Bitcoin attempts to turn the $ 50,000 into support, there are also some concerns about macroeconomic trends.
Galaxy Digital’s CEO, Mike Novogratz, stated that the interest in 10-year bonds in the US is intense. He highlighted that this could be a potentially alarming sign for the leading digital asset:
“Today, bonds have been sold a lot. Is this step the beginning of something much bigger? All traders need to watch this development closely. BTC is in a bull market. The adoption story overshadows the macro story. So gold and BTC may go in opposite directions for a while. ”
Despite this potentially alarming situation on the macro front, there is strong support for Bitcoin on the institutional side.
MicroStrategy announced on Tuesday that it will raise $ 600 million by selling senior convertible securities, a type of corporate bond. When the sale is finished, the $ 600 million collected will be invested in Bitcoin.
This move may cause a new surge of increase in Bitcoin.