MicroStrategy Buys 5,050 More Bitcoins For About $243 Million In Cash

MicroStrategy and Michael Saylor have been supporting Bitcoin for a really long time now, and the company has been buying the king coin despite the massive market volatility.

Now, the company bought even more BTC.

A follower said: “Microstrategy is a disaster waiting to happen. Does the business actually do anything besides buy more Bitcoin to prop up the price?? One thing i’ve noticed is everytime Microstrategy buys BTC it usually dumps in the days after.”

Someone else responded to the person above with the following words: “The man turned a $500M company into a $6BN company and you’re giving him financial advice.”

Bullish news about Bitcoin

More bullish news about Bitcoin pops up on a daily basis, despite the massive crypto price volatility.

Check out what important analyst Will Clemente said recently.

The king coin is now priced above $44,700.

Crypto analyst Justin Bennett says one price level for Bitcoin could determine what happens to BTC the rest of the year.

He explained that he thinks a correction to the $40,000 range for Bitcoin seems logical and that whatever happens after BTC hits that level could say a lot.

“A pullback to the $40,000 key weekly level makes a lot of sense here. That doesn’t mean it will happen, but it’s a scenario worth considering.”

He also said that Bitcoin might be showing a similar pattern to April when BTC formed a local top.

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I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.
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