Michael Saylor is further investing in Bitcoin, with his company Strategy planning to raise $711 million through a Series A Perpetual STRF offering to enhance its BTC holdings. The firm, which already possesses 246,000 BTC, aims to amass up to 500,000 BTC, accounting for about 2.4% of Bitcoin’s total supply. Initially set for 5 million shares, the offering increased to 8.5 million due to strong investor interest, with shares priced at $85. Supported by major financial entities like Morgan Stanley and Barclays, this initiative highlights institutional trust in Bitcoin’s enduring value.
Saylor’s expansive “21/21 Plan” is set to raise $42 billion over three years, signaling a robust accumulation strategy that could tighten BTC supply and support a sustained price increase.
Key Highlights:
– $711M raised via STRF equity sale
– Target: 500,000 BTC (2.4% of total supply)
– “21/21” plan aims to raise $42B
– Institutional backers include Barclays, Morgan Stanley
Bitcoin ETFs experienced renewed interest last week, with a total of $785.6 million inflows. BlackRock’s iShares Bitcoin Trust (IBIT) led the way, adding 6,342 BTC valued at $535.5 million. Fidelity and VanEck also contributed to the growing institutional exposure. On Friday, IBIT gained 1,250 BTC ($105.5 million), while Grayscale’s GBTC saw outflows of 260 BTC. Meanwhile, Ethereum funds faced $102.9 million in outflows, suggesting a capital shift toward Bitcoin. Despite these positive signals, Bitcoin’s price remains stable, possibly due to profit-taking and short-term market hesitation.
ETF Snapshot:
– IBIT: +6,342 BTC for the week
– Friday inflows: +1,250 BTC (IBIT), -260 BTC (GBTC)
– Ethereum ETFs: -$102.9M outflows
– Large transaction: 2,999 BTC ($252M)
Bitcoin is consolidating just under $84,660, forming a symmetrical triangle pattern on the 4-hour chart. The $84,000 level has alternated between support and resistance, closely aligning with the 50-period EMA at $84,090. A breakout appears imminent, with a move above $85,800 potentially triggering a rally toward $87,400 and $89,000. However, continuous failures near the triangle’s top might lead to short-term selling. On the downside, key support levels are at $83,000, $81,500, and $78,400.
Technical Levels to Watch:
– Resistance: $85,800, $87,400, $89,000
– Support: $83,000, $81,500, $78,400
– 50 EMA (4H): $84,090
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🇺🇸 Michael Saylor’s Strategy to raise $722.5 million to buy more Bitcoin pic.twitter.com/4iHi3FyoEe — cryptothedoggy (@cryptothedoggy) March 21, 2025
The Bitcoin ETF flows have quietly flipped very green 6 straight days of inflows totaling $785M 📈 pic.twitter.com/kT7eginFQH — TylerD 🧙♂️ (@Tyler_Did_It) March 22, 2025
