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Cryptocurrencies Price Prediction: MicroStrategy, Ethereum & Stablecoin – American Wrap 25 November

MicroStrategy set to push Bitcoin to new highs after 55,500 BTC acquisition, should investors be concerned?

MicroStrategy revealed on Monday that it made another heavy Bitcoin purchase, acquiring 55,500 BTC for $5.4 billion at an average rate of $97,862 per coin. The aggressive purchases have left investors wondering about the long-term implications of its strategy of issuing debts to buy Bitcoin.
 
Ethereum (ETH) is up over 4% on Monday following increased weekend buying pressure and investors potentially rotating away from Bitcoin. The top altcoin could stage a 30% rally if it maintains bullish pressure above the $3,400 key level.
Singapore Gulf Bank plans to raise at least $50 million to acquire a stablecoin payments company by early 2025. A Bloomberg report on Monday disclosed that the bank is planning to acquire a stablecoin firm, though it did not reveal its name. Funds raised will be used for product development, expanding the payment network and hiring more staff.
 
 

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