Microstrategy (Nasdaq: MSTR) Executive Chairman Michael Saylor sparked debate over Bitcoin’s future with a poll on the social media platform X. The poll, which concluded Monday, asked users: “Will Bitcoin break $100K by New Year’s Eve?” Of more than 92,000 votes, 85.6% responded “Yes,” while 14.4% said “No.” The post garnered nearly half a million views, reigniting discussions about BTC’s trajectory as the year nears its end.
Bitcoin’s potential to hit six figures has been a topic of speculation for years, with many analysts divided over its feasibility in the short term. With the recent price action of BTC breaking record highs, Saylor is preparing for a $100K bitcoin celebration, confident in BTC’s price trajectory. He dismissed concerns of a drop below $30K, predicting prices will surpass $100K by December. Highlighting robust Wall Street support, he credits Blackrock’s advocacy for bolstering bitcoin’s value proposition.
On Monday, Microstrategy revealed that it has purchased 51,780 additional bitcoins for $4.6 billion, bringing its total holdings to 331,200 BTC acquired at an average cost of $49,874 per bitcoin. This latest acquisition, funded by a $13.59 million share sale, underscores the firm’s aggressive cryptocurrency strategy.
At the end of October, Microstrategy unveiled a $42 billion strategic initiative, the “21/21 Plan,” aimed at accelerating bitcoin acquisitions and solidifying its leadership in digital asset investment. The plan involves raising $21 billion through equity and $21 billion through fixed-income securities over three years. While designed as a three-year initiative, Saylor suggested it could progress faster, stating: “All of our investors tell me, they want me to buy more bitcoin. They want me to raise capital to buy bitcoin. And their number one concern was: ‘Are you going to stop issuing equity to buy bitcoin?’ So, we were actually addressing their concerns.”
