Michael Saylor, the executive chairman of MicroStrategy, has suggested an upcoming Bitcoin acquisition at a price exceeding $100,000 per coin. This announcement aligns with Bitcoin’s recent surge to an all-time high, indicating a robust trend in the cryptocurrency market.
Implication of Further Bitcoin Purchase by Saylor
Saylor recently hinted at another Bitcoin purchase in a post shared on X (previously known as Twitter), triggering speculation about potential new acquisitions by MicroStrategy.
His pattern of posting such hints on consecutive Sundays has consistently preceded confirmed Bitcoin purchases by the company.
Rumors of MicroStrategy’s latest Bitcoin purchase arise as the cryptocurrency sets a new record price of $106,554.
At present, Bitcoin’s trading value stands at $104,958, with an increase of 3.14% within the last 24 hours and a 6.05% rise over the past week.
Bitcoin, with a circulating supply of 20 million BTC, now boasts a market capitalization exceeding $2 trillion.
Increased trading activities and heightened investor attention have bolstered the bullish momentum of the cryptocurrency.
Approaching a $50 Billion Portfolio
MicroStrategy currently holds 423,650 BTC, valued at over $43.6 billion as of December 15th. A potential acquisition at or above $100,000 per coin would signify a significant milestone for the company.
Saylor remains resolute in MicroStrategy’s commitment to accumulating Bitcoin irrespective of price fluctuations, expressing confidence in continuing purchases even at $1 million per coin.
The company’s Bitcoin investment strategy has notably boosted the performance of MicroStrategy’s stock (MSTR), recording a staggering 496.4% surge year-to-date and establishing it as one of the standout stocks on Nasdaq in 2024.