MicroStrategy made a significant Bitcoin purchase by adding 13,390 BTC to its reserves for $1.34 billion. This move highlights continued institutional confidence in the cryptocurrency.
MicroStrategy's Big Bitcoin Purchase
MicroStrategy announced the acquisition of 13,390 BTC for $1.34 billion, meaning the average purchase price was $99,856 per coin. The company's total Bitcoin reserves now stand at 568,840 BTC, valued at $39.41 billion, with an average purchase price increased to $69,287.
Market Signals Before the Announcement
Prior to the purchase announcement, Bitcoin price behavior suggested potential insider-informed trades as small dips were quickly bought. Market analysis shows Bitcoin began moving upward an hour before the news was released, raising concerns about fairness in crypto trading.
Price Volatility and Consolidation
Currently trading around $105,084, Bitcoin exhibits volatility and high market participation. Technical charts reveal complex short-term trends characterized by alternating bullish and bearish sessions. MicroStrategy's decision to double its capital plan also supports the bullish narrative in the market.
MicroStrategy's continued aggressive buying strategy emphasizes strong support for Bitcoin, creating a positive outlook for the cryptocurrency's medium-term future.
