• MicroStrategy has bought more than 2,000 bitcoins, bringing its total to more than 132K.
• FTX is making headlines due to its involvement in a $5B Contagion Protocol.
• Bitcoin’s price continues trading in a range while MicroStrategy buys more of it.
The crypto market has seen a plethora of activities and events in the last week of 2022. Michael Saylor’s MicroStrategy has been at the forefront of these, having revealed another purchase of more than 2,000 bitcoins, bringing its total to more than 132K. This is a significant milestone for the company, as it has been quite active in buying Bitcoin and other cryptocurrencies.
On the other hand, FTX is making headlines due to its involvement in a $5B Contagion Protocol. The protocol is designed to spread the risk of digital assets to other participants in case of an extreme loss. FTX’s involvement has been lauded by many, as it provides an extra layer of security and can be used as a hedge against the volatility of the crypto market.
In terms of price action, Bitcoin continues trading in a range, failing to break past the $30,000 mark. This lack of volatility has been a bit of a disappointment for investors, as the coin has failed to show any signs of life during this time. However, with MicroStrategy continuing to buy more Bitcoin, there is a possibility that this could lead to a price surge in the near future.
Finally, it is worth noting that the crypto market has been relatively stable over the past week. This stability has been a welcome respite for investors, as it allows them to make more informed decisions when investing in cryptocurrencies. With the upcoming new year, this stability could be crucial to the success of the crypto market, as investors need to be able to trust the market before they can commit to investing in it.