News

Breaking: MicroStrategy Purchase Additional 4,167 Bitcoins, BTC Price Eyeing $50K This Week 

The post Breaking: MicroStrategy Purchase Additional 4,167 Bitcoins, BTC Price Eyeing $50K This Week  appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide

On April 5th, MicroStrategy, the software firm owned by Michael Saylor, purchased an additional 4,167 BTC.

MacroStrategy has purchased an additional 4,167 bitcoins for ~$190.5 million at an average price of ~$45,714 per #bitcoin. As of 4/4/22 MicroStrategy #hodls ~129,218 bitcoins acquired for ~$3.97 billion at an average price of ~$30,700 per bitcoin. $MSTRhttps://t.co/Z45OuJU5KI

— Michael Saylor (@saylor) April 5, 2022

The acquisition brings MicroStrategy’s total BTC holdings to 129,218 tokens- valued at roughly $6 billion, based on today’s price.

Microstrategy Inc. said it bought more bitcoin between Feb. 15 and April 4 through its subsidiary MacroStrategy LLC.

MacroStrategy, a branch of MicroStrategy, has received a $215 million loan from Silvergate Bank to buy more Bitcoin.

MicroStrategy provided a portion of its Bitcoin reserves as collateral to secure the loan.

Will This Bullish News Take BTC Price to $50k This Weekend?

Bitcoin price recovered from the recent losses and surged above the $46,000 level. The Major crypto even broke the $46,500 resistance zone and is currently trading near $46,700. BTC/USDT is all set to test the next major resistance at the 47,000 level.

If BTC price rises above the 47,500 level it may initiate a bullish rally to $48,800 or even hit $49,200 if bulls remain intact.

On the flip side, Bitcoin might experience a fresh decline below the $46,000 support. In an extended bearish trend, the next major support is near $45,500, below which the price might revisit the $45,000 support.

Related posts

Bank of Russia Accelerates Schedule for Digital Ruble Project

Research Shows More Than 1 Million Australians Own Cryptocurrency

Amazon CEO: Crypto Will Become Bigger, NFTs Will Grow ‘Very Significantly’