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Bitcoin maximalist Michael Saylor on Wednesday announced that MicroStrategy has acquired 2,500 Bitcoins. As of December 27, MicroStrategy holds almost 132,500 bitcoin acquired for over $4 billion at a median value of $30,397 per Bitcoin, as per an SEC filing.

Bitcoin purchases by MicroStrategy have at all times been a bullish sign for the BTC value. However, Bitcoin value fails to point out any vital transfer after the latest report.

MicroStrategy Increases Bitcoin Holdings Amid Dip

During the interval between November 1 and December 21, MicroStrategy via its wholly-owned subsidiary MacroStrategy bought 2,395 Bitcoins for about $42.8 million.

Moreover, MacroStrategy sold almost 704 bitcoins for money proceeds of $11.8 million, at a median value of just about $16,776 on December 22 for tax advantages. This was the primary time MicroStrategy bought its Bitcoin. However, MacroStrategy acquired nearly 810 bitcoins for nearly $13.6 million in money two days afterward December 24.

Therefore, 132,500 Bitcoin held by MicroStrategy and its subsidiaries as of December 27, 2022 accounts for almost $4.03 billion. This makes the typical buy value as $30,397 per Bitcoin.

In September, MicroStrategy reported its total Bitcoin holdings of 130,000 BTC, after shopping for round 301 Bitcoins between August 2 to September 19, 2022. Also, the corporate bought $500 million of Class A MSTR shares via funding banks Cowen & Co. and BTIG LLC. The proceeds had been used for “general corporate purposes, including the acquisition of bitcoin.”

Also Read: Binance Suspends Terra Classic (LUNC) Burn Mechanism

Can Bitcoin Price Rally Above $17,000 Now?

Bitcoin value is at present buying and selling at $16,700, down 1% within the final 24 hours. The 24-hour high and low for Bitcoin are $16,608 and $16,839, respectively.

After the MicroStrategy information reached Crypto Twitter, Bitcoin value failed to point out any vital transfer. However, individuals stay hopeful about BTC value reclaiming a minimum of the $16.8K degree.

Bitcoin was buying and selling sideways close to the $16.8K degree since mid-November. But the latest breakout beneath the assist degree within the final 24 hours induced selloffs in altcoins.

Crypto analysts believe Bitcoin value month-to-month shut above $16,900-$17,000 is essential for a bullish rally in 2023.

Also Read: Is It $10K Or $100K For Bitcoin Price In 2023?

Varinder is a Technical Writer and Editor, Technology Enthusiast, and Analytical Thinker. Fascinated by Disruptive Technologies, he has shared his data about Blockchain, Cryptocurrencies, Artificial Intelligence, and the Internet of Things. He has been related to the blockchain and cryptocurrency trade for a considerable interval and is at present masking all the newest updates and developments within the crypto trade.

The offered content material could embrace the private opinion of the writer and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The writer or the publication doesn’t maintain any duty in your private monetary loss.