Grant Cardone raises Bitcoin holdings to 2,700 BTC – Why now?
Grant Cardone's firm Cardone Capital increased its Bitcoin holdings to approximately 2,700 BTC, purchased at an average of $59,000, amid a market downturn. This accumulation contrasts with actions from MicroStrategy, the largest corporate holder, which recently authorized selling up to $1.25 billion worth of Bitcoin after its first-ever sale in June. The broader market also saw significant selling pressure, with U.S. spot Bitcoin ETFs experiencing a record net outflow of roughly $4.06 billion in June. However, technical analysis using Bollinger Bands on the weekly chart suggests Bitcoin may have reached a potential bottom, as the price touched the lower band—a historical support level.
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