The breaking post: MicroStrategy buys an additional 4,167 bitcoins, BTC price targets $50,000 this week ￼ appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide
On April 5, MicroStrategy, the software company 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 purchased 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 approximately $6 billion, based on today’s price. Microstrategy Inc. said it bought more bitcoin between February 15 and April 4 through its subsidiary MacroStrategy LLC. MacroStrategy, a branch of MicroStrategy, 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 drive BTC price to $50k this weekend?
Bitcoin price recovered from recent losses and broke above the $46,000 level. The top cryptocurrency even broke the $46,500 resistance zone and is currently trading near $46,700. BTC/USDT is ready to test the next major resistance at the 47,000 level.
If BTC price breaks above the 47,500 level, it can start a bullish rally to $48,800 or even go as high as $49,200 if the bulls remain intact.
On the other hand, Bitcoin could see a further drop below the $46,000 support. In an extended downtrend, the next major support is near $45,500, below which the price could revisit $45,000 support.
This post Breaking: MicroStrategy buys an additional 4,167 Bitcoins, BTC price targets $50K this week ￼
was published first on https://coinpedia.org/news/microstrategy-purchase-additional-bitcoins/