CoinMarketCap Identifies Bullish Events for Bitcoin and Explains the Drama Behind SushiSwap

CoinMarketCap Identifies Bullish Events for Bitcoin and Explains the Drama Behind SushiSwap

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CoinMarketCap, the world’s largest cryptocurrency market cap aggregator, has released an opinion piece on events surrounding Bitcoin and all the drama behind the SushiSwap saga.

CoinMarketCap, the large online cryptocurrency market capitalization aggregator, has created an analysis on events surrounding Bitcoin and the craziness surround the latest DeFi craze, SushiSwap.

The main event related to bullish sentiment on Bitcoin is the purchase of an additional 16,000 Bitcoin by MicroStrategy, the business solutions company. This will take MicroStrategy’s investment in Bitcoin as their treasury currency to over $425 million and approximately 38,250 Bitcoin. Michael Saylor, the CEO of MicroStrategy, has been quoted as saying “Forget about parking the balance sheet surplus in inflation-prone cash or low-yield bonds or overextended tech stocks. In a market like this there are only two good places to put excess cash to work: stock buybacks and bitcoin.” 

SushiSwap, a hard fork of the Uniswap exchange, has been in the news a lot recently as the anonymous creator cashed out over $14 million worth of ETH and seemingly left the project. After some time, the anonymous “chef” came back and returned all of the money back into the treasury. It’s been quite a rollercoaster ride for SUSHI as it continues to rally with the return of their founder.

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