Saylor Teases New Bitcoin Buy This Week, Here is What to Look Out For
- Microstrategy CEO Michael Saylor hints at another Bitcoin purchase
- The company has acquired $17.99 billion in BTC since November 2024
- Microstrategy now owns $40.73 billion in Bitcoin, 2.116% of the total supply
Microstrategy CEO Michael Saylor just shared a new hint about new Bitcoin acquisitions by the private company.
In a Twitter post, Saylor implied that the company has already finalized another Bitcoin purchase, pointing out that the official Microstrategy Bitcoin tracker will likely be updated soon. Whenever the CEO drops this kind of hint, news of a new Microstrategy BTC buy generally comes within a day.
Since the last quarter of 2024, the company has been aggressively doubling down on its Bitcoin acquisition plan. After reports that the company intends to significantly expand its BTC holdings, Microstrategy has acquired $17.99 billion in BTC since November 11, 2024.
In total, the company owns $40.73 billion in Bitcoin, taking ownership of about 2.116% of the total Bitcoin supply. Microstrategy also stands out as the largest public company holding the asset by a long shot. Currently, Michael Saylor’s firm owns about $40 billion more than the second place in the rankings, Marathon Digital Holdings with $2.433 billion in BTC.
Can a Microstrategy Buy Help Bitcoin Reverse its Bearish Trend?
The world’s largest cryptocurrency has taken a downturn over the past week, going down from $102,000 on January 6 to today’s value of $90,777. In total, Bitcoin lost around 8.50% — reaching its lowest value since November of 2024.
While it is true that the market is likely getting ready for major movements by next week with the Trump inauguration ceremony, this most recent downturn has been a letdown for investors hoping to keep BTC above $100,000.
Part of the reason for this letdown was due to reports that the U.S. Government planning on liquidating over $6.5 billion from its holdings.
Historically, Microstrategy’s purchases have been able to create forward momentum for Bitcoin, depending on the size of the acquisition. For instance, on November 18, 2024, Microstrategy’s sizable $4.6 billion acquisition likely helped push the price of the asset for the 10% increase it saw during the next couple of days.
An interesting metric to look out for is also paying attention to how much the company will buy one week before the U.S. Presidential inauguration. If we see a purchase of multiple billions of dollars it likely indicates a bullish sentiment by Microstrategy, however, if the value fails to break the billion-dollar mark it likely shows a more cautious approach by the company.
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