Bitcoin rose on Friday on track for the fifth loss in a row, plumbing four-month highs while holding above the psychological barrier of $100,000 and on track for a new weekly profit.
The considerable gains come amid a positive atmosphere in the crypto market as major corporations continue to build up their bitcoin holdings, while investments continue to flow into US bitcoin exchange funds.
The Price
Bitcoin rose 1.1% at Bitstamp today to $104,332, the highest since January 31, with a session-low at $102,360.
On Thursday, bitcoin rose 6.5%, the fourth profit in a row, and the largest since April 22 amid a positive outlook after the US-UK trade deal.
Crypto Market Value
The market value of cryptocurrencies rose by over $65 billion to a total of $3.390 trillion, the highest since January.
Weekly Trades
Bitcoin is up over 9% so far this week, on track for the fifth weekly profit in a row.
MicroStrategy
Through the X platform, MicroStrategy’s Chairman Micheal Saylor announced a new round of bitcoin purchases, amounting to 1895 units, raising the company’s total holdings to a new record high.
The purchase occurred between April 28 and May 4, with the company spending $180.34 million, averaging $95,167 per unit.
The company now holds 555,450 bitcoins in total, averaging $68,610 per unit, with a total value of $38.11 billion.
MetaPlanet
Japan’s MetaPlanet also expanded its bitcoin holdings, acquiring 550 new units between April 25 and May 6, costing $53.36 million and averaging $96,134 per unit.
The company now holds 5555 bitcoins in total, totalling $481.44 million, and averaging $86,669 per unit.
Bitcoin Exchange Funds
US bitcoin exchange funds added nearly $600 million of investment this week, the third such weekly increase in a row, bringing the total cash inflows so far to over $5 billion.
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