Bitcoin Whale Acquisition: MicroStrategy Purchases Additional 660 BTC
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Saylor took to Twitter to outline his company’s latest purchase, where it spent $25 million to acquire 660 BTC. The BTC proponent tweeted:
“MicroStrategy has purchased an additional 660 bitcoins for ~$25.0 million in cash at an average price of ~$37,865 per #bitcoin. As of 1/31/22, we #hodl ~125,051 bitcoins acquired for ~$3.78 billion at an average price of ~$30,200 per bitcoin. $MSTR”
The tweet came with the company’s official Form 8-K form, addressed to the United States Securities and Exchange Commission detailing the purchase.
Meanwhile, the company’s previous BTC purchase came at the end of December, when it used $94 million to acquire 1,914 BTC.
Michael Saylor and the executives of MicroStrategy continue to exhibit their pro-Bitcoin stance despite the prevailing conditions around the market. Between December and now, BTC has shed over $10K. However, this has not deterred the company from acquiring more.
Meanwhile, MicroStrategy CFO Phong Le has assured that the company will continue to buy BTC and HODL regardless of the prevailing price action of the day.
Key Bitcoin Levels to Watch — February 3
BTC has renewed its bearish woes as it slipped back below the $37.5K support in its typical unprecedented fashion yesterday. This decline comes after a three-day consolidation around the $38.5K area between Monday and Wednesday while occasionally touching $39K.
The benchmark cryptocurrency breached a slew of technical supports, including the 4-hour 50 SMA, the 12-day ascending trendline, and the strong $37.5K support line, to bottom near the $36K support on Thursday. The decline comes amid a charged global economic docket, culminating with the US NFP reports tomorrow.
That said, BTC needs to reestablish a footing above the $37.5K barrier soon or risk extending its bearish position.
Meanwhile, my resistance levels are at $37,500, $38,500, and $39,000, and my key support levels are at $36,000, $35,000, and $34,000.
Total Market Capitalization: $1.68 trillion
Bitcoin Market Capitalization: $691.3 billion
Bitcoin Dominance: 41.1%
Market Rank: #1
