On November 18, 2024, MicroStrategy announced a significant Bitcoin purchase worth $4.6 billion, increasing its holdings to 331,200 BTC, drawing attention from crypto enthusiasts and investors.
MicroStrategy's Purchase
Michael Saylor, founder and chairman of MicroStrategy, stated that the company acquired 51,780 BTC with an acquisition price around $88,627 each, bringing the average purchase price to $49,874 per BTC.
Current Bitcoin Price
Currently, Bitcoin is trading near $89,770, having experienced a 1.10% decrease over the past 24 hours. However, its trading volume has increased by 22%, indicating heightened trader and investor activity despite price consolidation.
Bitcoin Technical Analysis
Expert technical analysis indicates that Bitcoin has been consolidating in a tight range between $86,000 and $91,870 for the last six days. Technical indicators like the 200 EMA and RSI suggest a potential upward rally in the coming days.
Thus, MicroStrategy's recent acquisition could increase interest from large players and retail investors in Bitcoin, potentially influencing future price trends.
