Cryptocurrency analyst Fred Krueger suggested that the $2 billion Tether (USDT) amount printed last night could be linked to MicroStrategy’s Bitcoin accumulation strategies. In a detailed post on social media, Krueger drew attention to MicroStrategy’s aggressive approach to buying Bitcoin, led by Michael Saylor. Krueger stated that this large liquidity printed around 21:00 GMT could be used to support Bitcoin purchases, especially on major exchanges like Binance.
At the time of the USDT printing process, the Bitcoin price was at $97,300, but according to Krueger, when MicroStrategy’s automated buying bots were activated, the price of Bitcoin skyrocketed to $98,300. Krueger stated that MicroStrategy recently raised $3 billion in convertible bonds and used stock issuances (ATMs) to increase this source. He also emphasized that the company could have up to $12 billion in total funding for Bitcoin purchases.
Krueger noted that the $2 billion USDT printed is just the beginning, and that these funds could be used to quickly buy Bitcoin. According to the analyst, the bulk of this liquidity could be allocated by next Wednesday, and the price of Bitcoin could see an $8,000 increase in the process. If these funds are fully used, 120,000 new Bitcoins could be added to MicroStrategy’s portfolio, pushing the company’s total Bitcoin reserves to unprecedented levels.
Krueger noted that these purchases could affect MicroStrategy’s market-adjusted net asset value (mNAV). He noted that with the company’s stock price around $426, mNAV could fall from $3.3 billion to $2.6 billion. These developments could cause volatility in the cryptocurrency market, and investors are eagerly following the effects of MicroStrategy’s Bitcoin purchases via USDT on the market.
