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Weekend Bitcoin Ritual: Michael Saylor Hints at MicroStrategy’s Next Bitcoin Buy
Last Updated: December 30, 2024
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Key Takeaways
- Michael Saylor's weekend Bitcoin chart posts hint at MicroStrategy's steady commitment to expanding its BTC holdings;
- MicroStrategy’s 21/21 plan seeks to raise $42 billion over three years to fund more Bitcoin acquisitions;
- Saylor proposes Bitcoin as a strategic reserve to reduce U.S. debt, estimating a $10 trillion market cap for success.
On a December 29 post, co-founder of MicroStrategy, Michael Saylor, shared a Bitcoin
Saylor's weekend posts have become a habit, often hinting at upcoming Bitcoin purchases by his company.
On December 22, MicroStrategy announced its latest Bitcoin purchase, acquiring 5,200 BTC at an average price of $106,000 per coin.
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This marked the company’s smallest purchase since July, but Saylor has consistently stated his commitment to buying Bitcoin at any price.
As a result, many investors view MicroStrategy as a way to gain exposure to Bitcoin due to the company’s large holdings and strategy.
On December 21, Saylor shared ideas about Bitcoin’s potential role in the US economy. He proposed a framework where Bitcoin could serve as a strategic reserve to offset national debt.
This plan suggests that the Treasury could gain between $16 trillion and $81 trillion in asset wealth. For this vision to succeed, Saylor estimates the digital asset market would need to grow to $10 trillion.
The company also held a special shareholder meeting to support its 21/21 plan. The initiative aims to raise $42 billion over three years—$21 billion through equity offerings and another $21 billion from fixed-income securities.
On December 15, Microstrategy made its first Bitcoin purchase at an average price exceeding $100,000. What did Saylor say about this purchase? Read the full story.
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