Breaking: MicroStrategy Purchase Additional 4,167 Bitcoins, BTC Price Eyeing $50K This Week
- On April 5th, MicroStrategy, the software firm owned by Michael Saylor, purchased an additional 4,167 BTC.
- 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.