Bitcoin reaches $30K, its highest price since June 2022.

For the first time since June of last year, Bitcoin is above $30,000, setting a new price high for 2023.

The largest cryptocurrency by market capitalization, Bitcoin, has reached price peaks last seen in mid-2022, surpassing $30,000 and setting a new high for 2023.

According to data from CoinGecko, Bitcoin has just barely topped $30,000 and is currently close to $30,200, a price it hasn’t seen since June 10, 2022. Bitcoin saw gains of around 46% over the past 30 days, reaching its highest level in ten months on April 11.

As traders wait for the United States Consumer Price Index (CPI) data on April 12, which will provide details on the Federal Reserve’s fight against inflation, some analysts expected that it would reclaim its $30,000 price tag.

The creator and executive chairman of business intelligence company MicroStrategy, Michael Saylor, has been a vocal supporter of Bitcoin and has been pushing for businesses to use cryptocurrencies as a strategic asset.

MicroStrategy purchased 140,000 BTC as of April 5 for a total purchase price of $4.17 billion, adding billions of dollars’ worth of Bitcoin to its balance sheet.

The most recent price increase indicates that MicroStrategy has profited from its investment, with an average price of almost $29,803 per coin.

Even with the ongoing cryptocurrency bear market, MicroStrategy has been steadily expanding its BTC holdings since its initial purchase in August 2020.