MicroStrategy Hints at Imminent Bitcoin Purchase as It Enters the Nasdaq 100

MicroStrategy co-founder Michael Saylor posted the Bitcoin BTCUSD chart from the SaylorTracker website on Jan. 5 — the same chart Saylor typically posts on Sunday

Tech firm MicroStrategy might be preparing to add more Bitcoin to its already massive stash.

On Sunday, MicroStrategy co-founder Michael Saylor posted the Bitcoin price chart from SaylorTracker on X. Typically, Saylor posts the same chart on Sundays before purchasing Bitcoin the following day.

"Something about SaylorTracker.com is not quite right," Saylor wrote in the post, hinting at an upcoming Bitcoin acquisition on Monday.

Last week, Saylor posted the same chart on Sunday, Dec. 29, and on Dec. 30, MicroStrategy purchased 2,138 BTC at an average purchase price of $97,837 per coin.

The company is planning to make more purchases as part of its 21/21 plan, which aims to finance the acquisition of Bitcoin to the tune of $42 billion by issuing $21 billion in equity and $21 billion in fixed-income securities.

MicroStrategy Enters the Nasdaq 100, Boosting 21/21 Bitcoin Treasury Plan

On Dec. 23, 2024, MicroStrategy joined the Nasdaq 100, a weighted stock market index that tracks the 100 largest companies on the Nasdaq exchange by market capitalization.

The addition of MicroStrategy to the index provides traditional stock investors with indirect exposure to Bitcoin, as the instrument is held by many exchange-traded funds.

Following the inclusion of the company in the Nasdaq 100, MicroStrategy called a special shareholders meeting to increase the number of shares available to fund the purchase of Bitcoin for its corporate treasury strategy.

According to a Dec. 23 filing with the Securities and Exchange Commission (SEC), MicroStrategy requested shareholder approval to increase class A common stock from 330 million to 10.3 billion shares.

Additionally, the company sought to expand authorized shares of preferred stock from 5 million to over 1 billion.

On Jan. 4, MicroStrategy announced its intention to raise $2 billion through a perpetual preferred stock offering.

The perpetual preferred offering will have seniority over class A common stock in the event of bankruptcy and will take precedence over equity holders during financial distributions in a corporate liquidation.

The proposed raise is separate from the company's core 21/21 plan to finance the purchase of Bitcoin and is expected to be realized sometime in Q1 2024, pending approval from the company.