{"id":565951,"date":"2021-03-05T18:38:46","date_gmt":"2021-03-05T15:38:46","guid":{"rendered":"https:\/\/en.ethereumworldnews.com\/?p=565951"},"modified":"2021-03-06T04:50:07","modified_gmt":"2021-03-06T01:50:07","slug":"microstrategy-now-hodls-91064-bitcoins-at-24119-per-btc","status":"publish","type":"post","link":"https:\/\/en.ethereumworldnews.com\/microstrategy-now-hodls-91064-bitcoins-at-24119-per-btc\/","title":{"rendered":"Microstrategy Now Hodls 91,064 Bitcoins at $24,119 Per BTC"},"content":{"rendered":"<p><strong>In summary:<\/strong><\/p>\n<ul>\n<li><strong>Microstrategy has purchased 205 additional Bitcoin for $100 million bought at $48,888 each<\/strong><\/li>\n<li><strong>The company now holds 91,064 Bitcoin at an average entry of $24,119<\/strong><\/li>\n<li><strong>The $47k Bitcoin price area is a level of macro support that has seen the movement of 500k BTC<\/strong><\/li>\n<li><strong>If Bitcoin fails to hold $47k, chances are that $42k is next<\/strong><\/li>\n<\/ul>\n<p>The software company of <a href=\"https:\/\/en.ethereumworldnews.com\/microstrategy-bought-the-bitcoin-dip-adding-19452-btc-at-52-7k-each\/\" target=\"_blank\" rel=\"noopener\" data-schema-attribute=\"about\">Microstrategy<\/a> has purchased an additional 205 Bitcoins for roughly $100 million. Each BTC was purchased at an average value of $48,888 bringing the total of Bitcoin owned by Microstrategy to 91,064 BTC.<\/p>\n<p>The CEO of Microstrategy, <a href=\"https:\/\/en.ethereumworldnews.com\/microstrategy-ceo-i-personally-hodl-17732-bitcoin-btc\/\" target=\"_blank\" rel=\"noopener\" data-schema-attribute=\"\">Michael Saylor<\/a>, made the announcement of the recent purchase <a href=\"https:\/\/twitter.com\/michael_saylor\/status\/1367824821011296257\" target=\"_blank\" rel=\"nofollow noopener\" data-schema-attribute=\"\">via Twitter<\/a> and also added that the average entry of the 91,064 Bitcoin is approximately $24,119 per BTC.<\/p>\n<h2>Institutions Continue to Accumulate Bitcoin around the $47k &#8211; $48k Price Area<\/h2>\n<p>Microstrategy announcing the purchase of 205 additional Bitcoins comes less than 48 hours after the CEO of CryptoQuant, Ki Young Ju, identified massive <a href=\"https:\/\/en.ethereumworldnews.com\/btc-being-sold-will-end-up-in-the-vaults-of-institutions\/\" target=\"_blank\" rel=\"noopener\" data-schema-attribute=\"\">institutional buying<\/a> around the $48k price area. According to Mr. Ju, whales are purchasing Bitcoin at this level via <a href=\"https:\/\/en.ethereumworldnews.com\/25600-bitcoin-btc-worth-1-2b-has-left-coinbase-in-the-last-week\/\" target=\"_blank\" rel=\"noopener\" data-schema-attribute=\"\">Coinbase<\/a> and eventually sending them to cold storage. <a href=\"https:\/\/twitter.com\/ki_young_ju\/status\/1366984863127986180\" target=\"_blank\" rel=\"nofollow noopener\" data-schema-attribute=\"\">He explained:<\/a><\/p>\n<blockquote><p><span class=\"css-901oao css-16my406 r-poiln3 r-bcqeeo r-qvutc0\">Whales accumulating <\/span><span class=\"r-18u37iz\">$BTC<\/span><span class=\"css-901oao css-16my406 r-poiln3 r-bcqeeo r-qvutc0\">. They are making a lot of bear traps lately, but the price seems to recover the institutional buying level, 48k. Looking at recent Coinbase outflows, most of the outflows that went to custody wallets were at 48k price.<\/span><\/p><\/blockquote>\n<p>The Co-Founder and CTO at Glassnode, Rafael Schultze-Kraft, made a similar observation surrounding the $47k price area. According to his analysis, over 500k Bitcoin has been transacted at around $47k thus proving that this price area is a crucial one. He also cautioned that failure by Bitcoin bulls in defending this area will ultimately result in a dip to <a href=\"https:\/\/en.ethereumworldnews.com\/bitcoin-miners-have-been-selling-their-bags-since-btc-hit-42k\/\" target=\"_blank\" rel=\"noopener\" data-schema-attribute=\"\">the next logical support of $42k<\/a>. He shared his analysis via <a href=\"https:\/\/en.ethereumworldnews.com\/polkadot-trade-worth-37-33m-liquidated-in-latest-crypto-market-dip\/\" target=\"_blank\" rel=\"nofollow noopener\" data-schema-attribute=\"\">the following statement<\/a>.<\/p>\n<blockquote><p><span class=\"css-901oao css-16my406 r-poiln3 r-bcqeeo r-qvutc0\">Very strong on-chain support at $47k \u2013 around 500,000 <\/span><span class=\"r-18u37iz\">$BTC<\/span><span class=\"css-901oao css-16my406 r-poiln3 r-bcqeeo r-qvutc0\"> have been moved at that level. Imo important that we hold it, otherwise we could see low forties quickly before the next upwards movements.<\/span><\/p><\/blockquote>\n<p><a href=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/03\/47k-Support-Glassnode-Mar-5th.jpg\"><img class=\"aligncenter size-large wp-image-565953\" src=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/03\/47k-Support-Glassnode-Mar-5th-1024x570.jpg\" alt=\"\" width=\"1024\" height=\"570\" srcset=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/03\/47k-Support-Glassnode-Mar-5th-1024x570.jpg 1024w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/03\/47k-Support-Glassnode-Mar-5th-300x167.jpg 300w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/03\/47k-Support-Glassnode-Mar-5th-770x429.jpg 770w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/03\/47k-Support-Glassnode-Mar-5th-1536x855.jpg 1536w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/03\/47k-Support-Glassnode-Mar-5th-500x278.jpg 500w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/03\/47k-Support-Glassnode-Mar-5th-240x134.jpg 240w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/03\/47k-Support-Glassnode-Mar-5th-717x399.jpg 717w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/03\/47k-Support-Glassnode-Mar-5th-1347x750.jpg 1347w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/03\/47k-Support-Glassnode-Mar-5th.jpg 1920w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" title=\"\"><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In summary: Microstrategy has purchased 205 additional Bitcoin for $100 million bought at $48,888 each The company now holds 91,064 Bitcoin at an average entry of $24,119 The $47k Bitcoin price area is a level of macro support that has seen the movement of 500k BTC If Bitcoin fails to hold $47k, chances are that $42k is next The software company of Microstrategy has purchased an additional 205 Bitcoins for roughly $100 million. Each BTC was purchased at an average [&hellip;]<\/p>\n","protected":false},"author":22,"featured_media":565844,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[800],"tags":[6962,1233,108113,108189,108185],"_links":{"self":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/565951"}],"collection":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/users\/22"}],"replies":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/comments?post=565951"}],"version-history":[{"count":0,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/565951\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/media\/565844"}],"wp:attachment":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/media?parent=565951"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/categories?post=565951"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/tags?post=565951"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}