MicroStrategy Boosts BTC Holdings by 1,665 Coins in Latest Acquisition
MicroStrategy, a well-known tech firm, has made another significant purchase of Bitcoin (BTC) and repurchased shares of its own stock.
The company acquired an additional 1,665 BTC at an unspecified price, bringing its total holdings to 847,666 BTC. It also spent $152 million to repurchase shares of its own stock, STRC, lifting the value of its USD assets to $6.02 billion as of September 27, 2023.
The acquisition brings MicroStrategy's total investment in Bitcoin to an impressive figure, and it continues to be one of the largest holders of BTC among public companies.
However, despite this significant move, the market seems to be facing pressure. The price of Bitcoin has been trading within a tight range, with an upper resistance at $85,179.07 and lower support at $83,018.08. The bearish MACD death cross at -148.11 and price below the EMA50 at $83,464.55 point to continued pressure toward the EMA200 at $78,886.64.