Michael Saylor, a vocal Bitcoin evangelist who cofounded business intelligence behemoth MicroStrategy and has stepped down from being its CEO to be its executive chairman, has published a new tweet that has the BTC community intrigued.
Recently, Saylor’s company, MicroStrategy, conducted yet another massive Bitcoin acquisition, while the BTC price took another dive.
Michael Saylor hints at MicroStrategy's new logo?
Renowned entrepreneur and Bitcoiner Saylor published an image that depicts a furry cartoon-like creature that is eating coins with the Bitcoin sign on them. “New logo?” Saylor tweeted with that image.
New Logo? pic.twitter.com/oWcZFkCxK4
— Michael Saylor⚡️ (@saylor) June 21, 2024
This tweet brought on a heated discussion in the comments, where some X users began to ask if this is a “new logo” for MicroStrategy since the creature in this image is eating Bitcoin - similarly to Saylor’s company, which continues to make large BTC acquisitions.
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MicroStrategy acquires more Bitcoin
Earlier this week, Michael Saylor announced yet another Bitcoin purchase as MicroStrategy bought another large BTC lump – 11,931 BTC, paying approximately $786 million for it. Now, the company holds a staggering 226,331 Bitcoin worth $8.33 billion in total.
This BTC was acquired at an average price of $65,883 per coin. MicroStrategy is now the leading corporate cryptocurrency holder by a large margin.
This mega Bitcoin purchase was possible thanks to the company recently raising $800 million in debt using convertible senior notes sold to investors. The initial goal was to raise $500 million to buy more BTC and to use the rest of the funds for operational expenses.
However, later, the goal was expanded from $500 million to $800 million.