The Bitcoin wave has boosted on the news of Microsoft and a New Zealand-based pension fund using the network. The first digital coin has bounced back after sustained losses. But the market seems to head for turbulence over the weekend.

After the sustained losses, the market seems to breathe again. <a href="https://www.cryptoknowmics.com/news/crypto-mining-stocks-drops-as-bitcoin-tests-critical-50k-support-level/">Global crypto markets</a> hit lows of $1.58 trillion yesterday at 4 pm UTC - the lowest number in nearly a month. 

But the resistance was not long-lasting and markets appear to be in a recovery phase. The market cap is now creeping up and stands <a href="https://www.cryptoknowmics.com/news/bitcoin-prepares-for-bullish-breakout-as-biden-considers-new-3-trillion-package/">at $1.66 trillion</a>.
<h2>Microsoft and New Zealand Pension Fund</h2>
Bitcoin price has gone back into the green at the time of writing, up 1.5%. The first cryptocurrency sank as low as $50,856 in the last 24 hours, according to CoinMarketCap. The <a href="https://coinmarketcap.com/currencies/bitcoin/" target="_blank" rel="nofollow noopener">value </a>is currently in the mid $53,000.

On one side, Microsoft is deploying its <a href="https://techcommunity.microsoft.com/t5/identity-standards-blog/ion-we-have-liftoff/ba-p/1441555" rel="nofollow">decentralized identifier network</a> on Bitcoin's main net. The project aims to help organizations and individuals to be identified online. Began four years back, the project allows traders to help organizations and individuals be identified online without having to rely on a third party.

While New Zealand pension fund <a href="https://www.nzfunds.co.nz/Assets/Documents/kiwisaver/offer-documents/kiwisaver-product-disclosure-statement.pdf">KiwiSaver had invested 5%</a> of its $350 million funds in bitcoin, it is keeping the market high.

James Grigos, Chief Investment Officer for the NZ pension fund said “Our KiwiSaver is majority built up through traditional assets classes, your bonds, and shares..., but there’s going to be times when it’s not always going to be plain sailing. You may still have a positive view of those asset classes, but other opportunities present themselves,” 
<h2>Bitcoin Option Contracts Set to Expire </h2>
Some $6 billion worth of contracts is expected to<a href="https://www.cryptoknowmics.com/news/bitcoin-slips-to-52k-all-eyes-on-6b-options-expiry-can-refuel-bulls/"> expire today</a>. According to market analysts, a lead to a short squeeze is expected. While it's likely to push the prices up, short bettors are forced to buy Bitcoin to cover their losses.

Markets are heading into a frothy period as assets elsewhere are drawing investment away. As reported by ByBt, more than $2 billion is liquidated in Bitcoin futures markets. Which indicates that markets are getting tougher to navigate.

Lori Calvasina, RBC Capital Markets head of equity strategy, recently made a Statement: 

"We have seen that value has outperformed growth." "In other words, growth stocks tend to outperform when growth is scarce, but value tends to outperform when it is plentiful. The good news for the value trade is that current consensus forecasts expect GDP to remain above trend through the end of 2022. The thing to monitor is whether that changes," he added.

As Microsoft and NZ Pension Fund Dive into Bitcoin, BTC wave Boosts

A student from a technical background, Deepshikha found Bitcoin in 2020 and has been an evangelist ever since. A B.Tech turned into a full-time crypto-writer, she tries to bridge the gap that currently exists between the crypto world and people from non-technical backgrounds, through her simplistic yet effective form of writing. She finds that her writing for cryptocurrencies can redefine the way the audience interacts with the crypto space.

As Microsoft and NZ Pension Fund Dive into Bitcoin, BTC wave Boosts

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