Bitcoin rose on Tuesday and expanded the gains for the fourth straight session, hitting a seven-week high and approaching $90,000 once more.
It comes amid improving sentiment after major corporations announced new bitcoin purchases, while the dollar weakened due to President Trump’s attacks against Fed Chair Powell.
The Price
Bitcoin rose 1.55% at Bitstamp today to $88,874, the highest since March 7, with a session-low at $87,094.
On Monday, bitcoin rallied 2.75% as the dollar collapsed.
Crypto Market Value
The market value of cryptocurrencies rose by $40 billion on Tuesday to a total of $2.865 trillion.
MicroStrategy
Through the X Platform, MicroStrategy’s co-founder and chairman Micheal Saylor announced another round of bitcoin purchases today at 6556 units, raising the company’s total holdings to a new record high.
The purchase occurred between April 14 and 20, with the company spending $555.85 million, averaging $84,785 per unit.
Following this new acquisition, the company now holds 538,200 units with an average price of $67,828 per unit, totaling $36.50 billion in value.
MetaPlanet
Similarly, Japan’s MetaPlanet increased its bitcoin holdings by 330 units worth $28.25 million, averaging $86,605 per unit.
Following the round of purchases, MetaPlanet’s holdings rose to a record 4855 units, worth $405.90 million
The Dollar
The dollar index fell 0.3% on Tuesday on track for the third straight session, and is about to hit three-year lows at 97.92 against a basket of major rivals.
Trump escalated his attacks against Fed Chair Jerome Powell and called him “a big loser” and “Mr Too late”, and demanded the Fed once more to cut interest rates.
The White House said it’s considering ways to fire Fed Chair Jerome Powell after Trump expressed urgent desires to terminate him due to disagreements about monetary policies.
Such news continues to rattle the markets, which depend heavily on the independence of the Federal Reserve from any political interference as a pivotal mainstay in the global financial system.
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