A news source, db “(@tier10k)” revealed on X (formerly Twitter) that MicroStrategy acquired 27,200 BTC, raising $2.03 billion through ATM sales.
As a result of this move, the impact on Bitcoin has been clear, with the price edging above the $80k line. At publication, BTC’s price stands at $82,271, indicating a rise of 3.80% in the last 24 hours.
Throughout the previous week, the performance of Bitcoin was well above par, and there was a 20.42% increase in its price. The increase has once again revived hopes in the crypto space and is improving investor confidence. This momentum could be attributed to the victory of Donald Trump in the recently concluded presidential elections in the United States.
Also, MicroStrategy’s latest purchase of Bitcoin is believed to be contributing directly to pushing down the price of thresholds above the 80k dollar mark. The firm acquired 27,200 BTC — the highest amount ever bought by MicroStrategy, a Bitcoin leger for many years now, which is a good sign for the cryptocurrency market as it continues to scale new heights. The appetite for acquiring Bitcoin by the firm puts it among the largest Bitcoin holders in the institutional space.
Some of the metrics were greatly upsurged as a result of MicroStrategy’s purchase. The Bitcoin trading volume on a daily basis rose by 35.94%, suggesting that there was a rise in the daily activities of the market.
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Since it is anticipated that the fresh purchases of MicroStrategy will demand strong support in the Bitcoin market, the spike in trading volume suggests that emotions are bullish for the token dollar.
The increase in Bitcoin’s price and trading volume may indicate a robust comeback for the cryptocurrency and a recovery in the market. Concerns about whether this rally will last over the long run and the next possible resistance levels are still present as Bitcoin keeps rising.
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