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.

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/

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