Bitcoin Reaches New Highs in 2023, MicroStrategy's Bold Investment

Bitcoin has recently attained price highs that have not been seen

The most significant cryptocurrency in the market has climbed above $30,000, which marks a new high for the year 2023.

As per the market data, Bitcoin has marginally surpassed the $30,000 mark and presently stands at almost $30,200 at the time of writing this news. The cryptocurrency has not touched this price point since the 10th of June, 2022. Over the last 30 days, Bitcoin has achieved a surge of almost 46%, reaching its highest point in ten months on April 11th.

Several analysts predicted that Bitcoin would reclaim its $30,000 price label as traders expect the US Consumer Price Index (CPI) report that will be released on April 12th. This report will provide insight into the Federal Reserve's struggle against inflation.

The Crypto Fear and Greed Index has remained in the "Greed" territory for the past week, and the most recent update on April 11th showed a score of 68 out of a possible 100 points.

Michael Saylor, the executive chairman and founder of the business intelligence firm MicroStrategy, has been an unwavering promoter of BTC and has led the charge for corporations to embrace cryptocurrency as a strategic asset.

MicroStrategy has added billions worth of Bitcoin to its balance sheet, presently possessing 140,000 BTC as of April 5th, with a total purchase value of $4.17 billion. The latest jump in price, with an average price of approximately $29,803 per coin, means that MicroStrategy has made a profit on its investment. Even in the continuing crypto bear market, MicroStrategy has been progressively increasing its BTC holdings since its initial purchase in August 2020.

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