MicroStrategy co-founder Michael Saylor has hinted at a Bitcoin purchase before the year ends by posting a Bitcoin (BTC) chart from the SaylorTracker website. In his regular style, the Bitcoin ambassador always posts the same chart on Sunday before making a Bitcoin purchase on Monday.
The tech entrepreneur has made a pattern on his X account where he makes a post to nearly his 4 million followers on Sundays. The post normally elicits reactions from market participants anticipating a move from MicroStrategy the following day.
Disconcerting blue lines on https://t.co/Bx3917zMqi. pic.twitter.com/xPl4GTKU3E
— Michael Saylor⚡️ (@saylor) December 29, 2024
The company’s recent Bitcoin purchase occurred on December 22. MicroStrategy bought 5,200 Bitcoins at an average cost of $106,000 per coin. Though significant, this latest acquisition is MicroStrategy’s smallest since July 2024.
Saylor has always said they will continue purchasing Bitcoin regardless of the price. Currently, it appears like a leveraged BTC bet that is also closely tied to the overall health of the digital asset.
MicroStrategy increases efforts on Bitcoin acquisition
MicroStrategy is not planning to slow down on its Bitcoin acquisition plan. The company called a strategic meeting with Shareholders in December to acquire extra resources for Bitcoin purchases as part of its 21/21 plan by increasing the number of shares to shareholders.
The 21/21 strategic plan directs the firm to raise $42 billion in the next three years, $21 billion in equity offerings, and $21 billion in fixed-income corporate securities to help purchase more Bitcoin.
MicroStrategy Bitcoin reserves hold a total of 444,262 BTC, with a market value of about $41.64 Billion. The company has the largest ownership of Bitcoin by a single entity.
Saylor proposed a digital asset framework for the United States
Recently, the crypto ambassador proposed a digital asset framework for the world’s most powerful economy. The framework included the Bitcoin strategic reserve, which has the potential to offset the US national debt due to its ability to offer up to $81 trillion in asset wealth.
According to the MicroStrategy co-founder’s plan, the US dollar can maintain its position as the global reserve currency by growing the market capitalization of the digital asset sector to $10 trillion.
He believes that growth in the digital market will propel the demand for the US dollar and the securities that back overcollateralized stablecoins like Tether’s USDt.
Michael Saylor has also suggested a tax on digital assets, including what to tax. Among the taxable items include digital tokens, digital commodities, digital securities, and digital ABTs securing real-world commodities.
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