Launched back in 2009, Bitcoin has been the pinnacle of the crypto sector for a while now. The most popular crypto is currently trading around 57k dollars, which is a massive feat for any crypto. But experts have speculated BTC to cross the 60k dollar mark several times now. Bitcoin has frequently failed to breach the 59,500 dollars resistance zone.
Its constant struggle was eventually stopped by a bullish reaction, bringing it down to 55k dollars for a while. But as expected, the crypto jumped back and is currently trading on a high 57k dollar market price. While the current support level of 56k is no small achievement, traders have been waiting for BTC to cross the 60k dollar mark for a while now.
As per experts, Bitcoin might experience another bullish trend sometime soon. Once the crypto breaches the 60k dollar mark, it is estimated to reach the 62k dollar value fairly quickly. While the crypto currently struggles, multiple renowned organizations are finally accepting it worldwide.
Palantir Adding BTC to its Portfolio
Similar news came from Palantir’s side, where the software company is said to consider adding BTC to its portfolio. Palantir is known for offering analytics tools to huge corporations and the defense industry, so its involvement with BTC might be the push that the crypto requires.
David Glazer (Palantir’s Chief Financial Officer) stated that after the company’s first-quarter earnings calls, Bitcoin is certainly on the table. David even considers holding other cryptos to the company’s balance sheet.
Palantir currently packs over 2.3 billion dollars in its quarter-end balance sheet. Out of which, 151 million dollars are adjusted in free cash flow for now. Thus, it is certainly viable for the company to look for new investments. The company is already accepting BTC as a payment method and might soon add it to its portfolio.
Tesla already bought $1.5 billion worth of BTC and sold 10% of it to highlight Bitcoin’s liquidity. Tesla was beaten to the move by MicroStrategy, which currently holds 91,579 Bitcoins. As per the ongoing prices, the coins will amount to approx. 5.14 billion dollars.
The crypto market has seen Bitcoin come close to the 60k dollar mark and fail multiple times now. A similar thing happened recently, and the crypto fell to 55k dollars. However, it made a quick recovery and is currently standing at a market value of 57k. Now that another well-established firm, Palantir, shows interest in the crypto, Bitcoin might breach the holy 60k dollar mark sometime soon.