MicroStrategy has added to its Bitcoin reserves, spending $101 million on acquiring 1070 coins amid growing interest and predictions of significant price increase.
New Bitcoin Purchase
The average price for each coin in this transaction was $94,004. As a result, the company’s total reserves have reached 447,470 Bitcoins, with an average acquisition cost of $62,503.
Bitcoin Price Predictions
Bitcoin is poised to break the $100,000 mark, with analysts confident it will soon surpass this barrier. This week, Bitcoin's price increased by 5.66%, the largest weekly jump since late November.
Market Analysis and Prospects
Many renowned analysts are sharing their forecasts for Bitcoin's price. Michael Saylor from MicroStrategy expects the price to double in the second quarter of the year. James Butterfill from CoinShares predicts a range of $150,000 to $250,000 by the end of 2025, linking it to institutional adoption and Bitcoin's encroachment on gold's market share.
Expectations for Bitcoin's rise remain high, and many analysts view the current time as a favorable moment for investment. MicroStrategy continues to display confidence in Bitcoin's future.
