MicroStrategy’s Bitcoin Buying Spree Continues
MicroStrategy, already a major player in the Bitcoin world, is raising a cool $563 million to buy even more of the cryptocurrency. The source indicated they’re doing this by selling 7.3 million shares of their preferred stock. This isn’t pocket change; it’s serious capital aimed squarely at accumulating more Bitcoin. As it stands, they already hold a massive 471,107 BTC, making them one of the biggest corporate holders out there – only lagging behind crypto giants like Binance and the US spot Bitcoin ETFs. And of course, you can’t forget Satoshi Nakamoto himself, the mysterious creator of Bitcoin.
Michael Saylor, the former CEO of MicroStrategy and a huge Bitcoin enthusiast, seems to be leading the charge. He’s definitely making a name for himself as one of the most dedicated Bitcoin “HODLers” – that’s crypto slang for people who hold onto their Bitcoin no matter what. The source explained that the stock offering is expected to finalize on February 5th, giving MicroStrategy a big boost to continue their acquisition strategy.
A Bold Prediction: $49 Million Per Bitcoin?
But here’s where it gets really interesting. Saylor, in a recent outlook, shared some pretty ambitious price targets for Bitcoin. He’s predicting a potential price of $49 million per coin in the future, as the source revealed. This isn’t some short-term guess; he’s looking at a 21-year timeframe with an assumed annual growth rate of 37%. Even his “bear case” scenario has Bitcoin reaching $3 million per coin. Now, those are some seriously bullish predictions, especially when compared to the already impressive 60% average annual growth that Bitcoin has seen over the last decade.
The source also noted that this move to buy even more Bitcoin really highlights MicroStrategy’s long term confidence in its value and growth potential, considering they’re using these funds directly for this purpose rather than typical business operations. It looks like they see something big on the horizon! The preferred stock itself is set at $100 per share, and includes an 8% annual dividend.
MicroStrategy is set to acquire $563 million more in Bitcoin, further solidifying its position as a major corporate holder. Former CEO Michael Saylor predicts Bitcoin could reach an astounding $49 million per coin within 21 years.
Source: Bitcoin | Bitcoinethereumnews.com
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