MicroStrategy Co-Founder Michael Saylor Sparks Speculation of Another Bitcoin Acquisition

MicroStrategy co-founder Michael Saylor has sparked speculation of another Bitcoin acquisition as he posted a Bitcoin chart on the SaylorTracker website

Bitcoin co-founder Michael Saylor continues to hint at another BTC acquisition by posting a Bitcoin price chart on the SaylorTracker website on January 5. This move usually precedes the company's cryptocurrency purchases. According to the data, MicroStrategy currently holds 446,400 Bitcoins, valued at approximately $43.7 billion.

Recently, the company acquired 2,138 Bitcoins on December 30 at an average price of $97,837 per coin, following a similar posting pattern. This aligns with MicroStrategy's ambitious 21/21 plan, which aims to finance the acquisition of $42 billion in Bitcoin through issuing $21 billion in equity and $21 billion in fixed-income securities.

MicroStrategy's inclusion in the Nasdaq 100, a prominent stock market index, provides indirect exposure to Bitcoin for traditional stock investors. In enhancing its Bitcoin treasury strategy, the company has approached shareholders to approve an increase in class A common stock shares from 330 million to 10.3 billion and preferred stock shares from 5 million to over 1 billion, as stated in a December 23 SEC filing.

Moreover, MicroStrategy announced plans to raise $2 billion through a perpetual preferred stock offering, which would prioritize common stock in financial distributions if the company faces liquidation. This capital raise is separate from the 21/21 plan and is expected to occur within the first quarter of 2024, following necessary corporate approvals.