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

Published by

Qadir AK

April 5, 2022

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.

Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.