Montana rejects a Bitcoin investment bill, Strategy signals further purchases, and traders analyze potential market movements.
Montana Lawmakers Vote Against Bitcoin Investment
Montana's House of Representatives rejected a bill that could have made Bitcoin a state reserve asset. The bill was defeated in a 41-59 vote due to concerns over speculative investments with taxpayer funds. Republican lawmakers expressed worries about the risks of investing in cryptocurrencies, while some legislators defended the idea of maximizing returns on taxpayer funds.
Strategy Signals Another Big Bitcoin Buy
Despite volatility, Strategy recently signaled a new Bitcoin purchase after a pause, confirming its commitment to digital assets. Institutional interest has grown, with BlackRock recently increasing its stake in Strategy to 5%. The introduction of convertible notes has further solidified the company's intent to continue expanding its holdings.
Bitcoin Traders Eye $106K for Breakout
Traders are watching Bitcoin's key price levels closely, viewing a move back to $106,000 as a possible breakout. Despite potential short-term pullbacks, analysts remain optimistic, pointing to consolidation in the current range. A drop to $85,000 is also predicted if the current support fails.
Despite mixed decisions in the market and among lawmakers, Bitcoin continues to attract major players' attention and remains a focal point in discussions about its long-term potential.
