Bitcoin has recently surpassed the $100,000 threshold, reaching a peak of over $101,000. This significant increase follows MicroStrategy’s acquisition of 1,070 BTC for $101 million, marking a notable recovery in the cryptocurrency’s value.

The average purchase price for these bitcoins was $94,004 each. This price movement is particularly interesting as it comes after a previous decline, where Bitcoin had fallen to a monthly low of $91,300. The recent surge in value occurred shortly after MicroStrategy’s announcement, contrasting with earlier instances where the cryptocurrency experienced declines following acquisitions.

Although this latest purchase is modest compared to earlier multi-billion dollar transactions, there are reports indicating that MicroStrategy plans to raise an additional $2 billion to further increase its Bitcoin holdings.

📎 Related coverage from: cryptopotato.com