Holding at $109K, but Maybe Not for Long

In the event that you missed it during the holiday week, he filed a Figma tool to go to the public through IPO. Used 95% of 500 Fortune 500 AS $ 871 million out of income for end twelve months (up 49% y/y), Figma published ETF Bitcoins Exposure of $ 70 million and Approval of the Board of Directors to purchase $ 30 million at Bitcoin point

.

“That’s the way,” This is the name of the essay written From Marta Bent, founder of the Bitcoin media company TFTC and control partner Bitcoin’s risk company TEN31.

“Figma is an incredibly well -controlled company, one of the irritating Silicon Valley Silling and a product that every designer I know uses in his daily workflow,” Bent wrote. “The fact that the founders of the Figma, their advice and their financial team had anticipation to expose themselves to Bitcoin ETF and Spot Bitcoins is an incredibly bull signal.”

In contrast to Gusher’s Gusher’s late -announcing Bitcoin strategies (Almost all SVs essence without operational business)Figma differs in that it has a real product that people use and love, and sweeps some of their profits to BTC.

Bent suspects that there are other privately operated companies that do the same that will be published in the next 12-18 months.

“After a certain amount of these unsuspecting companies, they reveal that they have bitcoins in their company balance sheet, they will become board bets for everyone else,” Bent concluded. “It will be” unreasonable “to have bitcoins in your balance sheet if you are a startup even if you have nothing to do with bitcoins.”

Current price action

From Bitcoin’s bulls, there was some frustration over the lack of ascending prices due to the infinite subtitles of the purchase of pressure from publicly traded businesses and point ETFs.

However, it does not make almost as many headlines tireless pressure sales from long -term holders sitting on a massive profit. Bitcoin analyst James, who spoke to Bent, estimated that this sale reached an incredible 40,000 BTC per day.

The fact that the market can absorb this type of sales and remain over $ 107,000 should be considered terribly bull, the check said, not as evidence of prices suppression by creating a paper bitcoin.