Days after 99Bitcoins voted Michael Saylor as the most influential crypto persona for 2024, the former CEO of MicroStrategy and a vocal Bitcoin advocate reignited speculation on X that the business intelligence firm could, less than a week after buying Bitcoin, stack even more coins.
Will MicroStrategy Buy More Bitcoin in January?
On January 5, Saylor posted the SaylorTracker, a closely watched tracking tool investors and Bitcoin
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enthusiasts used to monitor MicroStrategy’s BTC holdings.
Something about https://t.co/Bx3917zMqi is not quite right. pic.twitter.com/vRTAH2xTCX
— Michael Saylor
(@saylor) January 5, 2025
Following past events, MicroStrategy could snag even more coins in the next few days.
Historically, whenever Saylor tweets about the tracker, MicroStrategy tends to buy more coins a few days later.
Disconcerting blue lines on https://t.co/Bx3917zMqi. pic.twitter.com/xPl4GTKU3E
— Michael Saylor
On December 9, Saylor shared the tracker on X only for MicroStrategy to purchase 2,138 BTC on December 30.
Based on this pattern, MicroStrategy could buy more coins as early as Wednesday, January 8.
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MicroStrategy Has A Bitcoin Plan
According to Bitcoin Treasuries, MicroStrategy remains the largest public company holding Bitcoin.
With 446,400 BTC worth over $43 billion at spot rates stacked, the firm controls more coins than the United States and China.
(Source)
Over the past few years, they have been on a relentless buying spree, combining a unique strategy dubbed the 21/21 plan.
The mission is to buy more coins by issuing more equity. Specifically, MicroStrategy plans to buy $42 billion worth of BTC by issuing $21 billion in equity and a further $21 billion in fixed-income securities.
Following a shareholder meeting in late December, they also plan to increase the number of common shares from 330 million to 10.3 billion.
This month, MicroStrategy is also looking to raise $2 billion via a perpetual preferred stock offering. The offering, which aims to increase their liquidity further, will be separate from the 21/21 plan.
They already sold $561 million of MSTR shares in early December. It used its proceeds to buy 5,262 BTC at an average price of $106,662.
While some commentators frown on this plan, calling it speculative, it only underscores MicroStrategy’s core belief that Bitcoin is a superior store of value.
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Will BTC Price Reclaim $100,000 in January?
Given the sharp rally of MSTR stock over the last few years, MicroStrategy was included in the Nasdaq 100 index on December 23.
The inclusion was expected. Institutional investors seeking crypto exposure via a regulated market increasingly have used MicroStrategy as a de-factor Bitcoin proxy.
As Bitcoin pumps, MSTR stock has been on an upward trend. The surge from early November further boosted MicroStrategy’s valuation.
As of January 6, it stood at over $83 billion, according to Yahoo Finance market data.
(Source)
Interestingly, MSTR stock prices have soared in five years from less than $15 to over $300, mirroring the sharp upturn in Bitcoin valuation.
Coupled with Trump’s pro-crypto policies and optimism of MicroStrategy’s steady accumulation, prices could reclaim $100,000.
(BTCUSDT)
Bitcoin price is up nearly 10% from December 2024 lows at press time. Even so, a strong breakout above $100,000 could drive prices to fresh all-time highs.
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The post Will MicroStrategy Buy More Bitcoin Today? Saylor Posts SaylorTracker Again appeared first on 99Bitcoins.
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