NAIROBI (CoinChapter.com)— Michael Saylor, co-founder of MicroStrategy, has sparked fresh speculation about the company’s Bitcoin ambitions with a cryptic message on social media. The enigmatic post hinted at possible plans for another substantial Bitcoin purchase, leaving crypto enthusiasts guessing.
“Disconcerting Blue Lines” and Bitcoin Buzz
On Dec. 28, Saylor posted on X about “disconcerting blue lines” on the SaylorTracker portfolio, a tool monitoring MicroStrategy’s Bitcoin holdings. This vague statement quickly fueled rumors of an impending buy, following a pattern where similar hints preceded major Bitcoin acquisitions.
Michael Saylor’s Bitcoin portfolio sparks debate. Source: X
MicroStrategy already owns 192,042 BTC, purchased at an estimated $18 billion. These acquisitions coincided with Bitcoin’s rise from $67,000 to over $108,000, creating massive buzz in the market. Meanwhile, MicroStrategy’s stock skyrocketed 400% this year, trading at $360.
MicroStrategy’s Bitcoin holdings surge in 2024. Source: Bitcoin Treasuries
But not everyone is celebrating. Critics claim Saylor’s announcements cause temporary volatility. One trader explained, “He announces the buys, and day traders short Bitcoin, knowing the big customer is done. This causes retracements in BTC and MicroStrategy stock.”
Day traders exploit Saylor’s Bitcoin purchases. Source: X Expanding Stock for Bigger Bitcoin Moves?
MicroStrategy isn’t stopping at Bitcoin buys. The company plans to increase its Class A stock from 330 million to over 10 billion shares and preferred stock from 5 million to 1 billion. Analysts believe this will enable the company to raise funds for even larger Bitcoin purchases in the future.
While the plan might excite Bitcoin bulls, some shareholders fear dilution. Skeptics also worry that such a heavy focus on Bitcoin could expose the company to unpredictable market swings.
Will January Bring a Bitcoin Blackout?
Speculation remains whether MicroStrategy will pause purchases during a reported January blackout period. However, early signs suggest the buying spree isn’t over. If anything, Saylor’s cryptic posts hint at more action ahead.
With Bitcoin already heading into 2024 on an institutional high, MicroStrategy’s next move could send ripples through the market. Whether this leads to another rally—or fresh volatility—remains to be seen.
