Bitcoin struggles to hit a new record high despite positive news
Bitcoin flirted with its all-time high several times this week.
Bitcoin is struggling to break past the $110,000 resistance level despite people predicting the digital asset would hit a new all-time high this week, breaking the record $111,814 notched on May 22. Neither the softer-than-expected inflation report, the China-US trade talks, nor the fact that spot bitcoin ETFs passed a trillion dollars in trading volume could boost the token’s price to a new high. As of Thursday afternoon, bitcoin was hovering around $108,000.
That said, to put this in perspective: a year ago, bitcoin was at about the $68,000 level, making today’s price a nearly 60% jump in one year.
Meanwhile, companies continued to announce new bitcoin reserves and accumulate bitcoin:
Strategy, the largest corporate bitcoin holder, acquired 1,045 bitcoin for $110.2 million on Monday and now holds 582,000 bitcoin.
KULR Technology announced it acquired 118.6 bitcoin for $13 million; it now holds 920 bitcoin.
Over in Japan, Remixpoint announced it acquired 50 bitcoin and now holds 925 tokens. Japanese publicly traded Anap Holdings added 50.56 bitcoin this week, bringing its holdings to 153.46, inching closer to its 1,000 bitcoin treasury goal by August. Finally, Japanese video game developer Gumi bought 80 bitcoin.
In terms of sovereign treasuries, Ukraine, the fourth-largest sovereign bitcoin holder, is reportedly “finalizing a bitcoin strategic reserve bill.”
