Bitcoin has made history and cleared a new ATH (all-time high) of $71,000, the knock-on effect being a huge increase in the global crypto market cap that is now pushing towards the $2.7 trillion mark.
Riding the current Bitcoin wave, the first-ever presale on the Bitcoin network, Bitcoin Dogs, is now five days away from closing on March 15, 2024, with over $9.7 million in funds raised since its recent debut on February 14..
With experts suggesting evidence that a bull run began in 2023, there is optimism surrounding the cryptocurrency market among investors.
The Bitcoin ETF approval in January, the halving in April, talk of an ETH ETF approval later this year and suspected Fed rate cuts are forming an optimal wave of bullishness and the Bitcoin Dogs team hopes that a first-of-its-kind coin such as 0DOG is cleverly poised to ride this wave as 2024 progresses.
0DOG is available to buy on the Bitcoin Dogs website.
BTC sets the scene for Bitcoin Dogs’ launch
2024 is proving to be interesting, to say the least. The Bitcoin Dogs team attributes part of the project’s success to its uncanny timing.
The bull market began snowballing at the start of 2023, fueled by January’s ETF approvals.
The SEC passed 11 spot applications, causing large financial institutions such as Blackrock and Fidelity to begin accumulating BTC in unprecedented quantities Blackrock’s fund has now surpassed $11.5 billion in total inflows.
This was further compounded by other sources of institutional buy pressure beyond the ETFs, though.
Michael Saylor’s MicroStrategy doubled down on its long-term BTC accumulation strategy, acquiring $100 million in new debt to make Bitcoin purchases last week.
MicroStrategy now owns more BTC than any other public company, with a stash worth over $13 billion at current prices.
Saylor recently met with Jeff Bezos, with commentators suspecting a Bitcoin purchase by the Amazon boss.
Bezos recently sold $8.5 billion of AMZN shares, and rumors are circulating that the sale was made to fund a BTC acquisition.
Bezos would join Saylor and Elon Musk in the club of BTC-backed billionaires if a purchase is confirmed.
Finally, the Federal Reserve is expected to cut interest rates as the year goes on.
Rate cuts mean that investors get worse returns on ‘risk-off’ investments like bonds, causing many to look to ‘risk-on’ assets like Bitcoin for greater gains.
The availability of cheap credit…
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