Major cryptocurrencies saw a strong resurgence over the past day as the global crypto market cap expanded by 1.5%. Bitcoin surged past the $30,000 price level before correcting slightly to currently trade at $29.4K.

The largest cryptocurrency received a strong boost as MicroStrategy founder Michael Saylor revealed that his company purchased another 467 BTC tokens in July for $14.4 Million.

Crypto traders have been frustrated with the lack of upside displayed by Bitcoin in recent weeks. Despite its latest surge, it continues to trade between the $29K – $30K price range.

Investors are now looking for newly launched tokens that can outperform the sluggish crypto market, with XRP20 emerging as a top contender. The token is already nearing the $100k mark in the presale in less than a day.

Michael Saylor Remains Bullish On BTC Despite Recent Lack Of Volatility

Michael Saylor’s MicroStrategy is one of the biggest holders of Bitcoin in the world. Its purchase of additional 467 tokens in July puts its total BTC holdings at 152,800 tokens worth $4.5 Billion.

Furthermore, according to the latest SEC filing, the company sold $750 million worth of its Class A common stock and intends to use the proceeds to purchase additional BTC tokens.

MicroStrategy’s accumulation strategy has been traditionally bullish for Bitcoin. At the current price level, $750 million would amount to a purchase of additional 25,380 BTC tokens, which can provide a major boost and raise hopes of Bitcoin finally breaking above the $31k resistance.

Saylor is one of the biggest supporters of Bitcoin, calling it the best asset in the world on multiple occasions. He remains firm in his bullish stance on Bitcoin despite the recent lack of upside, which is not a surprise considering his BTC accumulation last year despite the ensuing bear market.

However, Saylor is now being joined by big money TradFi institutions in his support for the largest crypto asset. Bitcoin saw a major bullish growth in June when asset management firm