MicroStrategy Bought 4.871 More BTC

MicroStrategy Resumes BTC Purchases

MicroStrategy, the world’s largest publicly traded Bitcoin holder, resumed BTC purchases last week after a report that it did not make any purchases in the last week of March. The company purchased 4,871 BTC for $329.9 million at an average price of $67,718. With these purchases, its total holdings reached 766,970 BTC, and the total cost became approximately $58 billion. According to the 8-K filing with the SEC, the purchases were made below the company’s overall average purchase price of $75,644. Click for detailed BTC analysis.

In its first quarter financial results, the company reported $14.46 billion in unrealized losses on digital assets and $2.42 billion in deferred tax benefits. Since the Bitcoin holdings were trading below cost basis, a $1.73 billion deferred tax asset was recorded but an equal valuation allowance was applied; an additional $0.5 billion adjustment is expected. The company, which has purchased approximately 54,000 BTC since early February, spent $6.3 billion on a total of 89,316 BTC in the quarter. The ATM program was updated: $21 billion STRC and $21 billion MSTR stock offerings were added. In recent days, $473.9 million in net proceeds were obtained from STRC and MSTR share sales.

BTC Current Technical Outlook

Currently, BTC price is at the $69,496 level, up 3.96% in the last 24 hours. RSI at 52.06 is neutral, trend sideways but Supertrend is giving a bearish signal. EMA 20: $68,517. Strong supports: S1 $69,076 (83/100 score), S2 $67,090. Resistances: R1 $83,437 (20.25% distance), R2 $74,580. MicroStrategy purchases provide institutional support to BTC. For BTC futures details.

• Supports: S1 (Ichimoku based, strong)
• Resistances: R1 (Fibo 0.618, HVN)

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