Long

bullish

Bitcoin

BlackRock

<ul class="wp-block-list">
 <li>Michael Saylor’s Bitcoin strategy sparks debate as MicroStrategy risks losses with $8B debt but gains BlackRock’s confidence.</li>  
 <li>Bitcoin’s pullback tests key Fibonacci levels, with $85,722 as crucial support and a bullish target set at $125,000.</li>  
 <li>U.S. pension funds hold major stakes in MicroStrategy, signaling institutional trust despite market volatility.</li> 
</ul>  
Michael Saylor’s support for Bitcoin continues to spark controversy. Recently, he <a href="https://x.com/WatcherGuru/status/1895326918570057986" target="_blank" rel="noopener noreferrer nofollow">stated</a>, “Sell a kidney if you must, but keep the Bitcoin.” This bold remark drew mixed reactions from the crypto community. Some saw it as a joke, while others criticized his aggressive investment strategy.&nbsp;  
Critics argue that Saylor’s decision to invest heavily at market highs may have been too risky. Currently, a further 16% drop in <a href="https://coinmarketcap.com/currencies/bitcoin/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin’s price</a> could push MicroStrategy into a total loss on its holdings. Moreover, the company carries an $8 billion debt burden, adding to financial concerns.  
However, despite these threats, major banks are still heavily invested in MicroStrategy. Interestingly, the world's biggest asset manager <a href="https://cryptofrontnews.com/blackrock-ethereum-etf-options-await-sec-approval-amid-growing-interest/" rel="noopener noreferrer nofollow">BlackRock lifted its holding to 5% in the firm </a>after MicroStrategy changed its name to "Strategy" to mark its Bitcoin focus strategy.  
Additionally, 12 U.S. state pension funds <a href="https://x.com/Julian__Fahrer/status/1891260136649273376" target="_blank" rel="noopener noreferrer nofollow">currently</a> hold shares in Strategy. California’s State Teachers’ Retirement Fund leads with nearly $83 million invested, followed closely by the California Public Employees Retirement System with $76.7 million. These institutional investments indicate strong confidence in Strategy’s Bitcoin-centered vision.  
<h2 class="wp-block-heading" id="bitcoin-s-price-action-and-key-fibonacci-levels">Bitcoin’s Price Action and Key Fibonacci Levels</h2>  
Bitcoin is currently experiencing a pullback, trading at $89,918—a decline of 6.62% according to analyst Long Investor. The most crucial Fibonacci level, the 1.618 extension, aligns with a Wave 3 target of $125,000.&nbsp;  
Many traders view this as a magnet for Bitcoin’s next price surge. The alignment of the Cup formation and Fibonacci extension reinforces this bullish outlook. Moreover, Bitcoin showed promise for another significant upswing when it last soared 153.26%.  
<figure class="wp-block-image"><img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXc7-TzrIcVNr_uV7-izQU_G-UzxfcSwLf_-pnJW1-8vJTMMatvvnyH3jXL7nqzo_1C2HsK4BiZt0Isi9cGP8HKlSQ0wgNZ-Ve63ClxiWkx6IQy5h0LlrxxvTXDzlTPKjpFb8otbdA?key=4LIqi6q3y9IRM00PPq6EwyCD" alt="">
 <figcaption class="wp-element-caption">
 Source: <a href="https://x.com/TheLongInvest/status/1895258947851842010" target="_blank" rel="noopener noreferrer nofollow">Long Investor</a>
 </figcaption>
</figure>  
In addition, there has been positive momentum since Bitcoin recently <a href="https://cryptofrontnews.com/bitcoins-symmetrical-triangle-signals-potential-breakout-toward-116k/" rel="noopener noreferrer nofollow">broke out of a symmetrical triangle</a>. $69,177 is the support level to keep an eye on because it was a prior breakout point. Additionally, the 0.382 retracement at $85,722 could act as immediate support. If Bitcoin fails to hold this level, the next critical zone is the 0.5 retracement at $79,683. 
The post <a href="https://cryptofrontnews.com/michael-saylors-bitcoin-bet-sparks-debate-as-market-faces-volatility/" target="_blank" rel="noopener noreferrer nofollow">Michael Saylor’s Bitcoin Bet Sparks Debate as Market Faces Volatility</a> appears on <a href="https://cryptofrontnews.com" target="_blank" rel="noopener noreferrer nofollow">Crypto Front News</a>. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.

Michael Saylor’s Bitcoin Bet Sparks Debate as Market Faces Volatility

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