The MicroStrategy Bitcoin Strategy
MicroStrategy’s former CEO Michael Saylor recently shared a mysterious message that has sparked speculation within the crypto community. The post, featuring an apple and BTC logo, suggests that Saylor’s firm may be considering acquiring more Bitcoin. MicroStrategy has been following a consistent Bitcoin strategy for the past three years.
Since August 2020, the business intelligence and software firm has been purchasing Bitcoin whenever possible, becoming one of the largest Bitcoin holders in the process.
Meanwhile, Bitcoin has experienced a bearish movement due to various reasons, including Grayscale’s GBTC dump and FTX liquidation. The recent approval of eleven spot Bitcoin ETF applications by the SEC has led to a 20% drop in price.
Initially surging to around $49,000, Bitcoin eventually started heading towards a decline. Currently, it is trading at $38,781.05 with a 4.48% decrease in the last 24 hours.
Michael Saylor to Make the Most of the Market Dip
During times of price dips, top investors often choose to add more BTC to their portfolios.
Saylor’s cryptic post that reads “Take another bite of the apple. Bitcoin” likely indicates his intention to take advantage of the current market dip by purchasing more Bitcoin for MicroStrategy.
This move could prove beneficial if there is a bullish rebound in the near future.
On December 26, MicroStrategy acquired an additional 14,620 BTC for approximately $615.7 million, bringing their average purchase price per Bitcoin to $42,110. Their total Bitcoin portfolio now consists of 189,150 units acquired for around $5.9 billion. This brings their average cost per Bitcoin in this extensive holding to $31,168.
With the current Bitcoin price at around $38,000, MicroStrategy may see a reduction in the average cost of each Bitcoin unit in their portfolio. It’s worth noting that the firm had previously sold its MSTR shares to acquire more Bitcoin, showcasing their commitment to this Bitcoin strategy.
Hot Take: Michael Saylor’s Cryptic Post Sparks Speculation
Michael Saylor’s recent cryptic post featuring an apple and BTC logo has generated speculation within the crypto community. It suggests that MicroStrategy may be considering acquiring more Bitcoin. This aligns with their consistent Bitcoin strategy over the past three years. Despite recent market dips, Saylor’s post indicates a potential opportunity to add to their Bitcoin holdings and take advantage of a potential bullish rebound. MicroStrategy has previously demonstrated its commitment to this strategy by selling MSTR shares to acquire more Bitcoin. As the crypto market continues to evolve, it will be interesting to see how MicroStrategy navigates its Bitcoin investments.
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