August 2 BTCUSD BingX Chart Analysis and Today's Headline

Following the news of Tether's announcement of acquiring 2,310 Bitcoins in the second quarter and MicroStrategy's plan to raise $750 million through the sale of stocks to purchase Bitcoin, BTC experienced a violent rebound after dropping to $28,500. Whether this rebound can change the downward trend of BTC remains to be seen, as it depends on whether the trading volume of BTC can maintain steady growth. In a market with low liquidity, it is easy to see sudden price fluctuations within a small range. Only when stablecoins in the industry gradually increase and market funds grow, will it stimulate the formation of major trend movements in the market.

MicroStrategy Plans to Raise $750 Million Through the Sale of Stocks to Purchase Bitcoin

According to a filing submitted to the U.S. Securities and Exchange Commission (SEC) on Tuesday,MicroStrategy plans to raise $750 million through the sale of stocks to purchase Bitcoin. The funds raised will be used for acquiring Bitcoin and operational capital. In its latest financial report released on Tuesday, MicroStrategy disclosed $24.1 million in Bitcoin impairment expenses for the second quarter of this year, surpassing the $18.9 million recorded in the first quarter. As of July 31, 2023, MicroStrategy holds a total of 152,800 Bitcoins.

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