Michael Saylor, the chief architect behind MicroStrategy’s Bitcoin investment strategy, recently suggested that the company has made another Bitcoin purchase—potentially its first at an average price exceeding $100,000. This hint came from a December 15 post on X where Saylor questioned if the company’s portfolio tracker, SaylorTracker, was “missing a green dot,” indicating a new acquisition.
This pattern of teasing Bitcoin purchases on social media followed by official confirmations has become a routine for Saylor. Since November 10, he has posted the SaylorTracker chart on five consecutive Sundays, with each hint followed by a purchase confirmation the next day. If this trend continues, it confirms that MicroStrategy’s latest acquisition was made at a price above $100,000—given that Bitcoin’s price hasn’t dipped below six figures since December 13 at 5:00 PM UTC, according to CoinGecko.
Recent Acquisition Prices and Portfolio Value
MicroStrategy’s recent acquisitions have come at average prices of $97,862, $95,976, and $98,783 over the last three purchase instances from November 25 to December 9. Another purchase at these levels would significantly boost MicroStrategy’s holdings, pushing them closer to a portfolio valued at $50 billion. As of December 15, the firm holds 423,650 Bitcoins, valued at over $43.6 billion.
The potential new acquisition aligns closely with Bitcoin reaching a new all-time high of $106,554 just a day after Saylor’s hint. Saylor has expressed his long-term commitment to Bitcoin, asserting that he would continue purchasing it even if the price reaches $1 million.
MicroStrategy’s stock has seen remarkable growth, skyrocketing 496.4% year-to-date, making it one of the best-performing stocks on the Nasdaq this year, as per Google Finance. This performance has also led to MicroStrategy securing a spot in the Nasdaq-100, an index comprising the 100 largest non-financial companies listed on the Nasdaq.
Michael Saylor’s strategy of integrating Bitcoin into MicroStrategy’s financial framework has not only impacted the company’s market valuation but also influenced the broader market perception of cryptocurrencies as a viable asset class for corporate treasuries.
Author’s Opinion
Michael Saylor’s aggressive Bitcoin acquisition strategy highlights a broader trend of growing institutional confidence in cryptocurrencies. As firms like MicroStrategy continue to invest heavily in Bitcoin, they not only increase their own financial stake in the digital currency but also bolster the legitimacy of Bitcoin as an asset class. This move can be seen as a testament to the increasing acceptance of Bitcoin in the financial mainstream, promising a potential shift in how companies manage their reserves in an increasingly digital economy.
Featured image credit: Freepik
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