MicroStrategy to Restart Bitcoin Acquisitions

Michael Saylor’s MicroStrategy has secured funding to purchase at least 1,111 Bitcoin (BTC) this week, potentially increasing upward price pressure on the cryptocurrency in April. This move comes as the company looks to capitalize on market conditions and continue building its BTC holdings.

STRC Performance Enables Further Investment

Funding Secured Through STRC Shares

On Tuesday, STRC closed at $100.02, slightly above its $100 par value. Trading at or above par allows Strategy to issue new shares, raise capital, and deploy those funds into Bitcoin. By Tuesday’s close, Strategy had reportedly raised enough capital to fund the purchase of over 1,085 BTC, with the weekly total exceeding 1,111 BTC – equivalent to approximately $76.25 million.

Bitcoin Price Response and Historical Trends

The resumption of buying activity coincides with a recent increase in Bitcoin’s price. Since Tuesday, BTC/USD has risen by more than 5%, briefly reaching nearly $69,300. This pattern mirrors previous gains observed when Strategy was actively raising capital through STRC to acquire Bitcoin.

For example, during the week ending March 15, Bitcoin increased by over 10% despite broader market weakness. Conversely, after Strategy paused purchases as STRC fell below its par value, Bitcoin experienced a 14.55% decline over the following two weeks.

Potential for $80,000 Price Target

Technical Analysis Supports Upside

Strategy’s continued purchases via STRC and other preferred stocks suggest it will remain a significant source of Bitcoin demand in the coming months. From a technical perspective, Bitcoin’s recent rebound followed a retest of the lower boundary of its current bear flag pattern as support.

If the recovery continues, BTC could potentially reach the flag’s upper trendline near $80,000 in April, particularly with renewed buying from Strategy and positive market signals. This target also aligns with the 50-period exponential moving average on the three-day chart, representing a key resistance level.

Downside Risks Remain

However, Bitcoin faces the risk of falling below the flag’s lower trendline, confirming a bearish breakdown if supportive factors weaken. In that scenario, the price could fall to the $49,000–$50,000 range.

As of late March, MicroStrategy held 762,099 BTC, with an average acquisition price of around $75,694.

Disclaimer: This article is for informational purposes only and does not constitute investment advice.