The said stores were a part of a luxury residential project with some current occupants of the property being M&T Bank, Mighty Pita and ProHEALTH Urgent Care. The retail space is approximately 9,000 square feet in area. All Magnum BTC transactions will be handled by the world’s leading supplier of Bitcoin and cryptocurrency payment services, BitPay. This news added strength to the value of the BTC/USD on Tuesday.

Next, institutional investors must earmark 5% of their assets under management to BTC. It looks like companies are already starting to adopt these conditions, as Michael Saylor, CEO of MicroStrategy, recently revealed that his company has invested more than $242 million of its treasury assets to buy 5,050 BTC, bringing the total number of BTC on the balance sheet to approximately 114,042. Other famous executives who have also followed in Saylor’s footsteps include Jack Dorsey and Elon Musk.

Furthermore, on Tuesday, an American fintech company, MoneyLion, announced that it would enable users to trade digital assets through its all-in-one financial services application. The firm has plans to offer more cryptocurrencies to its clients, but initially, they are only able to operate with BTC and ETH. The new cryptocurrency service launched by MoneyLion will allow users to buy and sell BTC and ETH within its all-in-one app. This news added to the upward pressure on BTC/USD, keeping it in the green.

On the flip side, one of the officials from the central bank of Uzbekistan has said that the Republic of Uzbekistan will never adopt cryptocurrencies like BTC as a payment method. The deputy chairman of the Central Bank of Uzbekistan, Behzod Khamraev, has predicted that local authorities will never allow residents to use Bitcoin as a payment method, as it is not backed by anything. This news capped some of the BTC/USD gains on Tuesday.

The BTC/USD pair is trading with a positive bias at 46,955 on Wednesday. The 46,140 level is providing immediate support, which is being extended by a daily pivot point mark. Bitcoin will be exposed to the support levels of 45,325 and 44,663 if it falls below this level.

On the downside, Bitcoin’s immediate resistance barrier remains around 47,616. The BTC/USD pair will be exposed to its next resistance level of 48,431 if this level is broken in a bullish run. Furthermore, if the bullish trend continues, BTC will be exposed to the 49,908 mark.