Bitcoin Acquisition Speculation Reaches Fever Pitch as MicroStrategy’s Strategy Unclear
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Michael Saylor’s Clue: Is MicroStrategy Behind Bitcoin’s Next $100K Run?
In a recent cryptic post on social media, Michael Saylor, co-founder of MicroStrategy, has sparked fresh speculation about the company’s potential Bitcoin ambitions. The enigmatic message hinted at possible plans for another substantial Bitcoin purchase, leaving crypto enthusiasts guessing.
The post in question refers to “disconcerting blue lines” on the SaylorTracker portfolio, a tool monitoring MicroStrategy’s Bitcoin holdings. This vague statement quickly fueled rumors of an impending buy, following a pattern where similar hints preceded major Bitcoin acquisitions.
As it stands, MicroStrategy already owns 192,042 BTC, purchased at an estimated $18 billion. These purchases coincided with Bitcoin’s rise from $67,000 to over $108,000, creating massive buzz in the market. In tandem, MicroStrategy’s stock skyrocketed 400% this year, trading at $360.
Despite these developments, not everyone is celebrating. Critics argue that Saylor’s announcements cause temporary volatility. One trader explained, “He announces the buys, and day traders short Bitcoin, knowing the big customer is done. This causes retracements in BTC and MicroStrategy stock.”
However, it appears that MicroStrategy isn’t stopping at just Bitcoin buys. The company plans to increase its Class A stock from 330 million to over 10 billion shares and preferred stock from 5 million to 1 billion. Analysts believe this will enable the company to raise funds for even larger Bitcoin purchases in the future.
While the plan may excite Bitcoin bulls, some shareholders fear dilution. Skeptics also worry that such a heavy focus on Bitcoin could expose the company to unpredictable market swings.
The question remains: will MicroStrategy pause purchases during a reported January blackout period? Early signs suggest the buying spree isn’t over yet. If anything, Saylor’s cryptic posts hint at more action ahead.
Source: coinchapter.com
