The US Federal Reserve will announce another rate hike tonight due to rising inflation in the United States. How high the rate hike will be will be crucial for further Bitcoin price movements.
The Fed is expected to announce a 75 basis point rate hike. However, a 100 basis point rate hike could exert serious selling pressure. Analysts therefore expect that the Bitcoin price will fall sharply if the interest rate is indeed raised by 1 percent. On the other hand, we can expect a small rebound if interest rates are raised by 0.75 percent.
MicroStrategy Buys More Bitcoin
On Tuesday, September 20, MicroStrategy announced their new purchase of 301 Bitcoin. CEO of the company Michael Saylor noted:
MicroStrategy has bought another 301 Bitcoin for approximately $6.0 million at an average price of $19,851 per Bitcoin. As of September 19, MicroStrategy owns approximately 130,000 Bitcoin which have been acquired for approximately $3.98 billion at an average price of $30,639 per Bitcoin.
MicroStrategy is also considering selling shares worth $500 million to add additional Bitcoin to its reserves.
