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

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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.

  • 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.