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13.04.2021 03:20 PM
Bitcoin rises to nearly $63,000. Largest crypto fund MicroStrategy Inc. will pay salaries in BTC

Bitcoin is making its way to new all-time highs and is close to the $63,000 mark. Recent news in the world of cryptocurrencies contributes to the growth of bitcoin and going beyond the channel in which it has been since March 15, allows a new jump. But at the same time, be careful not to be pulled at the highs into another false breakout.

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From a technical point of view, the chart shows how the bulls, after the classic return and consolidation at the level of $59,400, made a new leap and now rested on another resistance in the area of $63,000. A breakout of this range will open a direct road to the highs of $65,000 and $67,000. If we do not see active purchases in the area of $63,000, bitcoin may quickly slide back to the support area of $59,400, but at the same time, the bulls will try to build the lower border of the new side channel from it with a maximum in the area of $63,000. If there is no activity of buyers in the area of $59,400, the first cryptocurrency will slide lower – to the support of $55,440.

Today it became known that the European Investment Bank plans to use the power of the blockchain to sell its bonds, potentially contributing to the expansion of the use of the technology as a tool for the debt market of the European region. As reported by the investment division of the European Investment Bank, it was decided to hire Goldman Sachs Group Inc., Banco Santander SA, and Societe Generale AG to study the issue of the so-called digital bond in euros, which will be registered and placed using the blockchain. Meetings with investors for the first sale of this new instrument will begin on April 15.

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Let me remind you that recently the European Central Bank is also showing much attention to the debt capital market, as well as to the digital euro, the creation of which will be decided in the near future. The President of the European Central Bank Christine Lagarde also spoke about this last week, who during an interview noted that the European regulator could launch the digital euro in the next five years. "We have to make sure that we are doing everything right - we have a great responsibility to the Europeans," Lagarde said in an interview with Bloomberg. "Let's be realistic - the whole process of developing and implementing a digital euro can take about four years, and maybe more," said Lagarde. The European Central Bank has conducted extensive research and received about 8,000 questions answered as part of a public consultation process on the potential launch of the central bank's digital currency. The study will be sent to the European Parliament, and then the governing council of the ECB in the middle of this year will decide whether to continue experiments in this direction or not.

MicroStrategy Inc. takes one step further and decides to pay income and dividends to its four directors, bringing management closer to the strategy of investing in the largest cryptocurrency. MicroStrategy Inc noted that the earnings are calculated in US dollars, then they will be converted into bitcoins, after which the payment will take place. Shares of MicroStrategy jumped 4.9% to $745.94 in New York trading. Over the past year, the company's shares have risen by almost 500%.

Jakub Novak,
Analytical expert of InstaForex
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