Reportedly, MicroStrategy is silently buying Bitcoin & soon announce its new bulk Bitcoin buy amount.
Microstrategy ($MSTR) is a popular Nasdaq-listed business intelligence firm, a big name in the crypto space because of its multi-billion dollars Bitcoin holdings. To date, Microstrategy holds a total of 331,200 BTC and with this BTC holding company is in $15.2 billion unrealised gain.
On 24 Nov 2024, Fred Krueger, a popular Bitcoin maximalist in the Crypto X community, noted that top stablecoin issuer Tether minted $2 billion USDT & the source of money was Microstrategy. According to Krueger, it is just the initial phase of the big Bitcoin buy game by Microstrategy. He noted that Microstrategy is going to buy Bitcoin from top crypto exchanges like Binance.
Summary of MSTR situation from spaces today. Thanks to Josh, Dark Side of the Moon and others for input.1. At about 2pm PST today., 2 Billion dollars of Tether were minted.2. It's extremely likely that MSTR was the source of these 2 Billion dollars in Tether. It uses USDT to…
— Fred Krueger (@dotkrueger) November 24, 2024
Here our readers need to know that Tether firm minted more than $15 billion worth of USDT in only 24 days of this November month, reflecting the increasing bull sentiments in the crypto sector.
⚡️ UPDATE: Tether has minted a total of over of 15 Billion $USDT in November. pic.twitter.com/M8r6BKhmA7
— Cointelegraph (@Cointelegraph) November 24, 2024
Another Bitcoin-centric crypto X user, “The Bitcoin therapist”, noted that many reports speculated that MicroStrategy might buy 100,000 Bitcoin before the QQQ index (a tech-heavy stock index) is rebalanced on Black Friday. And an announcement for the same might come on Monday.
Rumors are circulating MicroStrategy may be buying upwards of 100,000 Bitcoin this weekend in advance of the rebalancing of the QQQ ranking on Black Friday. Prepare for a massive announcement on Monday pic.twitter.com/qET9LmzIyW
— The ₿itcoin Therapist (@TheBTCTherapist) November 24, 2024
Some people claimed that 100,000 BTC is a very big amount against Microstrateg’s current in-hand cash, obtained from the 0% convertible notes offerings. Another Crypto X user said that approx. 80,000+ BTC is a better amount to predict for the next buy phase for Microstrategy.
89,490 makes more sense…420,690 is the way to signal
— IMFCHODL (@maddawgmills) November 24, 2024
Michael Saylor, the chairman & former CEO of MicroStrategy, also hinted that Microstrategy is going to announce its new Bitcoin buy amount within the next two days.
We need more green dots on https://t.co/Bx3917zeAK. pic.twitter.com/0VCrBs9oUa
— Michael Saylor⚡️ (@saylor) November 24, 2024
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