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Bitcoin breaks past $40,000 resistance, Microstrategy to acquire more bitcoins, Local companies use blockchain platfrom to ease international transactions.

For this week’s crypto scoop, here are the highlights:

Bitcoin Breaks Past $40,000 Resistance
MicroStrategy Plans to Increase Bitcoin Holdings
208 Local Companies Complete $580 Million in International Transfers using Blockchain.

Bitcoin Breaks Past $40,000 Resistance

The last few months have been quite the challenge for bitcoin, with numerous dips in price keeping the bitcoin community a little on edge. However, bitcoin seems to have begun a winning streak which has had it leaping over $40,000. In the previous week, bitcoin had gone below the $30,000 tipping point resulting in some anxiety in the bitcoin community.

Yet, it seems bitcoin is not only back on its feet but maintaining a bullish run breaking the $40,000 resistance. Bitcoin enthusiasts are expectant that its bullish run would soon take it past its previous ATH of $64K.

MicroStrategy Plans To Increase Bitcoin holdings

MicroStrategy, the Virginia-based business intelligence company, has announced its intention to increase its bitcoin holdings. Presently, MicroStrategy holds over 105,000 bitcoins. Michael Saylor, CEO of MicroStrategy, announced that its recent funding has allowed the company to increase its funding to more than 105,000 bitcoins. He went further to emphasize that the company “intends to continue to deploy additional capital into our digital asset strategy.” Since August, the company has begun its bitcoin accumulation, which is held securely in the company’s treasury reserve.

Read also: What is Blockchain Technology?

208 Local Companies Complete $580 Million in International Transfers using Blockchain.

In the Chinese province of Yunnan, local companies have recorded $580 million in international transfers across borders using a blockchain-based platform. The Blockchain-based platform was developed by Yunnan authorities and launched in December. The platform was created to help export-oriented companies minimize the time spent on international transfers from about 2 days to 15 minutes.

208 local Yunnan companies have completed 638 transactions worth $580 million with this platform. The Chinese Central government is dedicated to encouraging blockchain innovations as it is believed to make the government more efficient. It has proven effective for traders and the authorities in monitoring transactions and implementing regulations.

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