ARE THEY SELLING BITCOIN TO BUY ANTHROPIC? 🤖💸
Today I came across a different explanation for the drop in $BTC : Anthropic’s IPO. According to CoinDesk, the subscription books received 6 times more orders than there were shares available, and the company is looking to raise up to $64.4 billion. The CEO of Xapo Bank says many investors are selling liquid assets like Bitcoin to raise the money and get in on the offering.
The curious thing is that something similar has happened before: before SpaceX’s IPO, $BTC fell 19% in 50 days, and 100 days after the IPO it was up 28%. Matt Cole of Strive believes that if the pattern repeats, much of the decline is already behind us.
I think that when Wall Street opens such a big door, money moves fast and the effects are felt everywhere, even in crypto.
Is $BTC still going down, or has it found its bottom? The chart has the answer.
#Bitcoin
Today I came across a different explanation for the drop in $BTC : Anthropic’s IPO. According to CoinDesk, the subscription books received 6 times more orders than there were shares available, and the company is looking to raise up to $64.4 billion. The CEO of Xapo Bank says many investors are selling liquid assets like Bitcoin to raise the money and get in on the offering.
The curious thing is that something similar has happened before: before SpaceX’s IPO, $BTC fell 19% in 50 days, and 100 days after the IPO it was up 28%. Matt Cole of Strive believes that if the pattern repeats, much of the decline is already behind us.
I think that when Wall Street opens such a big door, money moves fast and the effects are felt everywhere, even in crypto.
Is $BTC still going down, or has it found its bottom? The chart has the answer.
#Bitcoin
