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A further commitment to its treasury sees MicroStrategy join Grayscale as this week's big buyer while others keep selling.
Bitcoin (BTC) showed signs of a resurgence on Jan. 22 after a trip below $30,000 produced fresh buyer support.
The turnaround follows a turbulent 24 hours in which Bitcoin slid to $28,950 — a key level when it comes to support from whales and only its second dip below $30,000 this year.
BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView
At the same time, MicroStrategy, well known for its ever-increasing Bitcoin treasury, confirmed that it had purchased 314 BTC to bring its total hoard to 70,784 BTC.
"Microstrategy just bought 314 more #Bitcoin for $10M. @michael_saylor bought the dip," Twitter-based information resource Documenting Bitcoin summarized, referring to the company's CEO, Michael Saylor.
The latest buy-in came at an average cost of $31,808 per Bitcoin and joins asset manager Grayscale's ongoing purchases that defy overall selling action in the past few weeks.
According to monitoring resource Whalemap, that area is crucial to hold in order to avert a further price dip on BTC/USD, one that could take the pair closer to $20,000.
Bitcoin (BTC) showed signs of a resurgence on Jan. 22 after a trip below $30,000 produced fresh buyer support.
BTC price seals 8.5% daily bounce
Data from Cointelegraph Markets and TradingView showed a stronger trading day for BTC/USD on Friday, with daily gains at 8.5% at the time of writing.The turnaround follows a turbulent 24 hours in which Bitcoin slid to $28,950 — a key level when it comes to support from whales and only its second dip below $30,000 this year.
At the same time, MicroStrategy, well known for its ever-increasing Bitcoin treasury, confirmed that it had purchased 314 BTC to bring its total hoard to 70,784 BTC.
"Microstrategy just bought 314 more #Bitcoin for $10M. @michael_saylor bought the dip," Twitter-based information resource Documenting Bitcoin summarized, referring to the company's CEO, Michael Saylor.
The latest buy-in came at an average cost of $31,808 per Bitcoin and joins asset manager Grayscale's ongoing purchases that defy overall selling action in the past few weeks.
All eyes on whales at $29,000
Among other major BTC investors, meanwhile, interest remained focused on the area at just below $30,000.According to monitoring resource Whalemap, that area is crucial to hold in order to avert a further price dip on BTC/USD, one that could take the pair closer to $20,000.