Michael Saylor Preparing for More Bitcoin Purchase: BTC Chart Hints
Date: 2024-12-30 Author: Henry Casey Categories: BUSINESS
The chart, created by SaylorTracker, a platform that tracks MicroStrategy’s cryptocurrency operations, shows that the firm currently holds 442,262 BTC, valued at approximately $41.4 billion. In his post, Saylor noted: “Worrying blue lines on SaylorTracker.com.”
History shows that Saylor has often posted similar posts on Sundays before making large Bitcoin purchases earlier in the week. For example, on December 22, MicroStrategy purchased 5,262 BTC worth $561 million. These regular Monday purchases have caught the attention of the crypto community.
The new post has sparked a flurry of discussion among market participants, as many believe that this could be MicroStrategy’s last purchase in 2024. The company has long been considered a major player in the crypto industry due to its strategic investments in Bitcoin.
As the largest corporate holder of Bitcoin, MicroStrategy recently initiated a shareholder proposal aimed at raising capital for further BTC purchases.
In its filing with the U.S. Securities and Exchange Commission (SEC), the company proposed increasing the number of Class A shares from 330 million to 10.33 billion, and preferred shares from 5 million to 1.005 billion.
In addition, MicroStrategy reached a significant milestone in 2024 by joining the Nasdaq 100 Index. This event marked a significant milestone not only for the company itself, but also for the entire cryptocurrency industry.
Analysts at Cryptorush, a company specializing in cryptocurrency games, noted in a commentary for Cryptonews that MicroStrategy's inclusion in the Nasdaq 100 could significantly affect the Bitcoin market and the industry as a whole.
"MicroStrategy's success demonstrates the growing acceptance of Bitcoin by institutional investors," said a leading analyst at Cryptorush. "Its presence in the Nasdaq 100 could be a strong bullish signal for the market."
The experts also emphasized that the company's listing will lead to passive cash infusions estimated at up to $2 billion, an increase in the value of its shares, and an increase in institutional interest.
"MicroStrategy's inclusion in the Nasdaq 100 is not just a success for the company, but also an important step for the entire cryptocurrency industry," the analysts concluded.
