Michael Saylor, the executive chairman of MicroStrategy, has hinted at potentially acquiring more Bitcoin, indicating it could be the company’s first procurement at an average price exceeding $100,000 per coin.
This development occurs concurrently with Bitcoin achieving a fresh all-time high, underscoring the robust momentum in the digital currency market.
Saylor Teases Another Bitcoin Acquisition
Michael Saylor recently shared a post on X (formerly known as Twitter), questioning the absence of a green dot on SaylorTracker, a platform that tracks MicroStrategy’s Bitcoin reserve.
This statement has fueled speculation that MicroStrategy might have made additional Bitcoin purchases over the past weekend.
Since the 10th of November, Saylor has been regularly making such posts on Sunday, with each followed by a confirmed Bitcoin acquisition by MicroStrategy the subsequent day.
Previously, the company procured Bitcoin at average rates of $97,862, $95,976, and $98,783 on consecutive Mondays from November 25th to December 9th, per data from SaylorTracker.
Bitcoin Achieves New All-Time High
The buzz surrounding MicroStrategy’s potential purchase coincides with Bitcoin hitting a historic price of $106,554.
At present, Bitcoin is being exchanged at $104,958, marking a 3.14% surge within the last 24 hours and a 6.05% increase over the past week.
With Bitcoin’s circulating supply at 20 million BTC, its market capitalization has now exceeded $2 trillion.
Elevated trading volumes and heightened investor enthusiasm have fostered the cryptocurrency’s bullish trajectory.
Data from Santiment discloses a 9.9% uptick in wallets possessing at least 100 BTC since October 10th, adding 1,582 new wallets during this period.
Approaching a $50 Billion Portfolio
As of December 15th, MicroStrategy holds 423,650 BTC, valued at over $43.6 billion. A procurement at or above $100,000 per coin would signify a significant milestone for the company.
Saylor has consistently affirmed that MicroStrategy will persist in accumulating Bitcoin, regardless of price fluctuations.
He has even expressed confidence in acquiring Bitcoin even if the price hits $1 million per coin.
The company’s strategic Bitcoin investments have significantly boosted the performance of MicroStrategy’s stock (MSTR) this year.
Based on data from Google Finance, MSTR shares have surged by 496.4% year-to-date, positioning it as one of the top-performing stocks on Nasdaq in 2024.