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<p>As BTC price continues to make history, MicroStrategy has been at it again, dropping hints of another Bitcoin purchase pledge. The company said it had successfully made a $3 Billion offering of convertible senior notes, the main aim of which is to buy more <a href="https://www.thecoinrepublic.com/price-prediction/bitcoin/">Bitcoin</a>.</p> 
<p>This is yet another move by the firm which is on a BTC acquisition spree. This now makes it the largest institutional Bitcoin holder with current holdings of over 158000 BTC.</p> 
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  <img loading="lazy" decoding="async" width="902" height="678" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/11/image-656.png" alt="" class="wp-image-848496" style="width: 100%;height:auto" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/11/image-656.png 902w, https://www.thecoinrepublic.com/wp-content/uploads/2024/11/image-656-300x225.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/11/image-656-768x577.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/11/image-656-150x113.png 150w, https://www.thecoinrepublic.com/wp-content/uploads/2024/11/image-656-696x523.png 696w" sizes="auto, (max-width: 902px) 100vw, 902px">
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   Source: X
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<p>The offer of $3 Billion also includes $400 Million aggregate principal in connection with an optional purchase undertaking from the initial purchasers. Such a bond, due in 2029, has a conversion rate of 55% above the current note price.</p> 
<p>This indicates that investors have great confidence in MicroStrategy’s business model and the emergent cryptocurrency market.</p> 
<p>The action follows a spurt in <a href="https://www.thecoinrepublic.com/2024/11/24/bitcoin-beyond-98k-whats-pushing-btc-price/">Bitcoin prices</a> and suggests that MicroStrategy is confident of Bitcoin’s future. Some analysts are concerned about its timing, due to fluctuations. </p> 
<p>However, historically, MicroStrategy’s sound approach has made up a large part of institutional uptake together with market sentiment. Furthermore, Michael Saylor’s recent post may be a further indication of Saylor’s intention to buy more bitcoin.</p> 
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  <img loading="lazy" decoding="async" width="876" height="778" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/11/image-652.png" alt="" class="wp-image-848459" style="width: 100%;height:auto" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/11/image-652.png 876w, https://www.thecoinrepublic.com/wp-content/uploads/2024/11/image-652-300x266.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/11/image-652-768x682.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/11/image-652-150x133.png 150w, https://www.thecoinrepublic.com/wp-content/uploads/2024/11/image-652-696x618.png 696w" sizes="auto, (max-width: 876px) 100vw, 876px">
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   Source: X
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</div> 
<h2 class="wp-block-heading" id="h-btc-price-inches-closer-to-100k-milestone"><strong>BTC price Inches Closer to $100K Milestone</strong></h2> 
<p>The moment that MicroStrategy chose to release the information couldn’t have been any better timed. BTC price was slightly below one hundred thousand dollars, at around $97,427 when the announcement was made.</p> 
<p>The trading volume of Bitcoin within the last 24 hours has hit $104 Billion, intensifying investors’ activities as it nears the critical marker of $100,000.</p> 
<p>Such a cross above the $100000 mental level could pave the way to the next target of $150000 that analysts are expecting. Bitcoin’s rally today can be attributed to increased awareness of institutional investors as seen with Michael Saylor who is set to allocate $3 Billion for Bitcoin.</p> 
<p>This institution’s adoption is an influential factor in the price movement of Bitcoin. MicroStrategy has not only made a bet on the future of Bitcoin’s value but also addressed the rest of the financial world with this message.</p> 
<h2 class="wp-block-heading" id="h-technical-analysis-a-bullish-outlook"><strong>Technical Analysis: A Bullish Outlook</strong></h2> 
<p>Various technical metrics show that BTC price is far from peaking. In the 4-hour chart, deeper analysis shows that the cryptocurrency is far above key moving averages. </p> 
<p>The 50-SMA is established at $75,056 with good resistance, the 100-SMA and 200-SMAs give even stronger support at $67,792, and $65,896.</p> 
<p>By construction, these moving averages point to an upward trajectory of Bitcoin’s price. They imply that the crypto king is well-backed even when there are corrections in the short term.</p> 
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  <img loading="lazy" decoding="async" width="1024" height="502" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/11/image-654-1024x502.png" alt="" class="wp-image-848469" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/11/image-654-1024x502.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2024/11/image-654-300x147.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/11/image-654-768x377.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/11/image-654-1536x754.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2024/11/image-654-150x74.png 150w, https://www.thecoinrepublic.com/wp-content/uploads/2024/11/image-654-696x341.png 696w, https://www.thecoinrepublic.com/wp-content/uploads/2024/11/image-654-1068x524.png 1068w, https://www.thecoinrepublic.com/wp-content/uploads/2024/11/image-654.png 1600w" sizes="auto, (max-width: 1024px) 100vw, 1024px">
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   4-hour BTC/USD Chart | Source: TradingView
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<p>At press time, the Relative Strength Index (RSI) was at 76.77. Although it may provide for a near-term pullback, it also shows that demand is building up for higher ground in the BTC price.</p> 
<p>The market outlook looks spirited as analysts highlight around $100,000 as the next big key level. Once penetrated, the path to $150,000 could be progressively more realistic depending on the national macroeconomic stability and institutional backing.</p> 
<p>Another important variable is trading volume, which correlates with Bitcoins and increases with price rates. The volume to market cap ratio stands at 5.40% indicating strong liquidity set ideals for the continuation of an upward trend.</p> 
<p>As such, it remains firstly overwhelmingly bullish. However, we could also initial consolidation or correction that may occur in the market.</p> 
<p>The post <a href="https://www.thecoinrepublic.com/2024/11/24/btc-price-microstrategy-to-buy-more-bitcoin-as-100k-nears-150k-next/">BTC Price: MicroStrategy To Buy More Bitcoin As $100K Nears, 150K Next?</a> appeared first on <a href="https://www.thecoinrepublic.com">The Coin Republic</a>.</p>

BTC Price: MicroStrategy To Buy More Bitcoin As $100K Nears, 150K Next?

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