Bitcoin Breaks $30k and Winklevoss Twins Loan $100M to Gemini

Apr 11, 2023
Market Update Crypto markets rallied last night and this morning as $BTC broke above $30,000 for the first time since June last year. At the time of writing, $BTC is up 1.57%, $ETH is up 0.09%, and SPX and NDQ are down 0.04% and 0.71%, respectively. Bitcoin continues to outperform relative to most of the crypto market - the Bitcoin Dominance ratio is up 0.45% today and has reached its highest level in two years at 48.54%. Despite Bitcoin's dominance run, a couple of altcoins are outperforming. Alt layer ones $SOL and $FTM are up 10.77% and 3.72%, and Bitcoin smart contract platform, $STX, is up 4.69%. Bitcoin's recent rally above $30K has put Michael Saylor's MicroStrategy in the green on their Bitcoin purchases of the last couple of years. MicroStrategy's average purchase price is $29,803, meaning the company had been underwater on the position since last June, with their position down as much as $2 billion at Bitcoin's lows. Despite the volatility of the crypto market the past year, MicroStrategy has kept its buying strong. The company added 1,045 bitcoin on April 5 and announced they bought 6,455 bitcoin on March 27. MicroStrategy and its subsidiaries now hold approximately 140,000 bitcoins, worth roughly $4.22 billion. MicroStrategy's stock $MSTR is up 6.03% on the day an

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