Bitcoin ($BTC) is currently above the three and a half year trendline that bisects both tops of the 2021 bull market. As Bitcoin consolidates above this trendline, the final surge to $100,000 is within its sights.
Yet another huge BTC purchase for MicroStrategy
As Bitcoin consolidates at around $91,000, the institutional buying of the world’s scarcest asset goes on, and on, and on. Hardly more than several days since MicroStrategy bought a huge pile of 27,200 BTC, Michael Saylor’s company has done it again, and this time with an even bigger haul.
On Monday it was announced that MicroStrategy had bought another 51,780 BTC. In dollar terms, this was the biggest purchase ever by MicroStrategy, costing $4.6 billion. Straight away after this latest buying spree, MicroStrategy announced a $1.75 billion offer with which to buy even more Bitcoin.