On December 29, Michael Saylor, a prominent tech entrepreneur and Bitcoin advocate, posted a Bitcoin chart on the SaylorTracker website, showing the value of the currency at $93,702. This is a regular move by Saylor, as he posts the same chart on Sundays before making Bitcoin purchases on Mondays.
"The blue lines on SaylorTracker.com are quite annoying," Saylor shared. This post, which has now become part of his weekly ritual, has attracted attention from market participants, with predictions that MicroStrategy will make a Bitcoin purchase the next day.
MicroStrategy, Saylor's company, recently completed its latest Bitcoin purchase on December 22, 2024, adding 5,200 BTC at an average price of $106,000 each. This is the company's smallest Bitcoin purchase since July 2024.
Saylor has repeatedly stated that he will continue to buy Bitcoin regardless of the price. Currently, traders view MicroStrategy as a 'leveraged investment in Bitcoin', while linking the company's growth to the health of the crypto market.
MicroStrategy intensifies investment in Bitcoin
MicroStrategy continues to expand its investment in Bitcoin, recently convening a special shareholder meeting in December 2024 to fund additional Bitcoin purchases through an increase in the number of shares that can be issued.
The company's '21/21' plan refers to a financial strategy in which MicroStrategy intends to raise a total of $42 billion over the next three years to fund additional Bitcoin purchases. This money will be evenly split between the issuance of $21 billion in stock and the issuance of $21 billion in corporate fixed-income securities.
Michael Saylor proposes digital asset framework in the United States
Recently, Michael Saylor also proposed a legal framework for digital assets in the United States. Specifically, he proposed the creation of a strategic Bitcoin reserve fund that could help alleviate the U.S. national debt, with asset values potentially reaching from $16 trillion to $81 trillion.
Saylor believes that the U.S. dollar can maintain its status as the global reserve currency if the digital asset sector can achieve a market capitalization of up to $10 trillion. This growth will drive demand for the USD and U.S. government securities, while also supporting stablecoins like USDt (Tether).
As part of this proposal, Saylor also introduced a new classification for digital assets, including: digital commodities, digital securities, digital currencies, digital tokens, non-fungible tokens (NFTs), and digital ABT — assets backed by real-world commodities.
Through these initiatives, Saylor continues to affirm the importance of Bitcoin and digital assets in the future of the global economy, as well as MicroStrategy's role in driving the transformation of the digital asset market.
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