Michael Saylor, co-founder of MicroStrategy, has sparked new talk about the company’s possible Bitcoin buys, suggesting another purchase for the eighth week in a row. His recent puzzling social media post about “strange blue lines” on the SaylorTracker portfolio has raised expectations for a big Bitcoin purchase.
MicroStrategy is known for buying a lot of Bitcoin, owning more than 192,042 BTC at an estimated cost of $18 billion. This strategy has matched a rise in Bitcoin’s price, going from about $67,000 to a high of $108,000.
As a result, MicroStrategy’s stock has grown significantly, trading at about $360, which is a 400% increase this year. The company shifted from enterprise data analytics to investing in Bitcoin, making it the largest public holder of the cryptocurrency.
Saylor’s public statements have faced criticism for causing market fluctuations. Traders frequently short Bitcoin after these announcements, expecting a price drop when buying pressure lessens, which can hurt MicroStrategy’s stock value.
Even though there were plans to pause acquisitions in January, it seems MicroStrategy is still focused on its Bitcoin strategy. The company is planning big changes, like increasing its authorized Class A common stock from 330 million to over 10 billion shares, and its preferred stock from 5 million to 1 billion shares. If approved, this would allow MicroStrategy to gather significant money for future Bitcoin buys.
Market analysts think these actions will give MicroStrategy more options for buying large amounts of Bitcoin, making both the cryptocurrency and stock markets watch closely for Saylor’s next moves.
