MicroStrategy’s Michael Saylor Suggests Potential Bitcoin Purchase Above $100K as BTC Hits All-Time High

• Michael Saylor hints at MicroStrategy’s Bitcoin buy over $100K as BTC hits a record $106K.

• Bitcoin reached a new all-time high of $106,554, fueling market excitement and adoption.

• MicroStrategy nears $50B Bitcoin portfolio as Saylor signals more BTC purchases above $100K.

This article explores MicroStrategy’s ongoing Bitcoin strategy as BTC hits a new all-time high, with significant implications for the crypto market.

Saylor hints at another Bitcoin purchase

Michael Saylor posted on X (formerly Twitter), asking if SaylorTracker, a platform that monitors MicroStrategy’s Bitcoin holdings, was “missing a green dot.” This statement has sparked speculation that MicroStrategy purchased more Bitcoin over the weekend.

Source: X

Saylor has shared similar posts on five consecutive Sundays since the 10th of November. In each instance, a confirmed Bitcoin purchase by MicroStrategy followed the next day. The company previously acquired Bitcoin at average prices of $97,862, $95,976, and $98,783 on three consecutive Mondays from the 25th of November to the 9th of December, according to SaylorTracker data.

Bitcoin reaches new ATH

The speculation surrounding MicroStrategy’s potential purchase comes as Bitcoin achieved a record-breaking price of $106,554. As of press time, Bitcoin was trading at $104,958, representing a 3.14% increase in the past 24 hours and a 6.05% rise over the past week.

With Bitcoin’s circulating supply at 20 million BTC, its market capitalization now stands at over $2 trillion. Increased trading volumes and heightened investor interest have contributed to the cryptocurrency’s bullish momentum. Santiment data reveals that since the 10th of October, there has been a 9.9% rise in wallets holding at least 100 BTC, adding 1,582 new wallets during this period.

Source: Santiment

MicroStrategy nears $50 billion portfolio

MicroStrategy held 423,650 BTC at press time, valued at over $43.6 billion as of the 15th of December. A purchase at or above $100,000 per coin would mark a major milestone for the company. Saylor has consistently maintained that MicroStrategy will continue accumulating Bitcoin, regardless of price levels. He previously stated he is “sure” the company would still purchase Bitcoin even at $1 million per coin.

The firm’s Bitcoin investment strategy has contributed to the exceptional performance of MicroStrategy’s stock (MSTR) this year. According to Google Finance data, MSTR shares have surged 496.4% year-to-date, positioning it as one of the top-performing stocks on Nasdaq in 2024.

Conclusion

As MicroStrategy hints at further Bitcoin purchases amidst a record high price of BTC, the firm stands to significantly enhance its dominance in the cryptocurrency market. The implications of this strategy extend not only to Saylor’s company but potentially across the wider financial landscape as institutional adoption gains traction.