Bitcoin Price Prediction: As MicroStrategy and Riot Expand Bitcoin Holdings, BTC is Expected to Break $107,000

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Today's Bitcoin Price: $107,300

Bitcoin (BTC) is trading in the green, with a trading price exceeding $107,000 on Tuesday, following a record high of $107,793 the previous day. The recent rise in BTC is supported by companies like MicroStrategy and Riot Platforms, which have increased their BTC holdings. The technical outlook remains bullish, supporting a continued rise, with an expected target of $119,500.

The Rise of Bitcoin Driven by Corporate Demand

At the beginning of this week, the price of Bitcoin reached an all-time high (ATH) of $107,793. This increase can be seen as a result of the growing corporate demand for Bitcoin.

On Monday, Michael Saylor's MicroStrategy (MSTR) announced that the company purchased an additional 15,350 BTC for approximately $1.5 billion, at an average price of $100,386 per BTC. MSTR currently holds 439,000 BTC, acquired at a price of $27.1 billion, with an average price of $61,725 per BTC. This activity sparked discussions within the cryptocurrency community about Bitcoin, leading to the price reaching a historical high of $107,793 that day.

At the same time, Riot Platforms also announced an increase of 667 BTC, at an average price of $101,135 per BTC. Currently, Riot holds 17,429 BTC, valued at $1.8 billion.

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