Saylor’s post did include “disconcerting blue lines,” which some have taken to mean another large Bitcoin buy could be on the way. Similar cryptic messages from Saylor in the past have preceded the official announcement of Bitcoin investments.
The largest public holder, MicroStrategy, has acquired upwards of 192,000 BTC already. It’s paid about $18 billion for the purchases, but in doing so, the firm has raised the purchase price from $67,000 to $108,000. Meanwhile, its stock is up by more than 400% this year and trading at close to $360.
Despite these gains, Saylor’s Bitcoin strategy has faced criticism. Some argue that his announcements lead to market volatility, with Bitcoin prices dropping after purchases are disclosed. Others suggest that the company’s buying spree might pause in January due to a planned blackout period.
However, MicroStrategy seems to be preparing for more acquisitions. The firm recently proposed increasing its authorized shares of Class A and preferred stock, significantly expanding its ability to raise funds.
Analysts suggest this move could further fuel MicroStrategy’s Bitcoin ambitions, ensuring its prominent role in the cryptocurrency market continues.
