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Rates sold off hard today. Is it the beginning of something far bigger? All traders need to watch closely. Crypto is in a secular bull market. The adoption story is overshadowing the macro story. So gold and $BTC can go in opposite directions for a while. https://t.co/fJvqSTuRBh
— Mike Novogratz (@novogratz) February 17, 2021
Despite this potential worrying side on the macro front, there is strong support for Bitcoin on the institutional side.
MicroStrategy announced on Tuesday that it will be raising 600 million by selling convertible senior notes, a type of corporate bond. Once the sale finishes, the $600 million raised will be converted into Bitcoin.
The firm purchased $650 million worth of the leading cryptocurrency in December after it did a similar raise back then.