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Michael Saylor Signals Further Bitcoin Purchases For Strategy

Michael Saylor and Strategy (formerly MicroStrategy) have shown no signs of tapering their Bitcoin accumulation spree. Investors are bracing for an imminent BTC purchase announcement in the coming days amid ambitious plans to raise cash.

Michael Saylor Posts Portfolio Tracker, Signaling Imminent Bitcoin Acquisition

Strategy Executive Chairman Michael Saylor has posted the company’s portfolio tracker, revealing the amount of Bitcoins held on its balance sheets. Saylor shared the portfolio tracker via an X post, disclosing that the company holds 607,770 BTC with a valuation of $71.8 billion at current prices.

Michael Saylor’s portfolio tracker posts have historically always preceded a Strategy Bitcoin announcement. Last week, Strategy added 4,225 BTC to its holdings after Saylor teased a Strategy purchase by posting the tracker.

Previously, Strategy went on a 12-week Bitcoin buying spree before taking a one-week pause. Since the pause, the company has made two consecutive weekly purchases to cross the 600,000 BTC milestone and appears set to make a third.

“It all began with a quarter billion in bitcoin,” read Michael Saylor’s accompanying caption.

Michael Saylor is alluding to Strategy’s first BTC purchase of $250 million back in August 2020, which formerly cemented the transition to a Bitcoin treasury company. Chances are that the company can splurge $250 million on a fresh purchase, reminiscent of its initial haul.

Strategy Armed With Cash To Continue Accumulation Spree

Strategy’s imminent Bitcoin purchase is fuelled by swelling cash reserves from capital raises in recent weeks. Last week, the company announced a $500 million STRC IPO to buy Bitcoin, revealing plans to sell 5 million shares of the preferred stock.

A few days after the IPO announcement, the company announced that it would upsize the STRC IPO to $2.4 billion. Michael Saylor’s Strategy still has $4.2 billion in capital from its STRD offering that it has yet to deploy for Bitcoin purchases.

While Strategy continues to inch forward with its accumulation plans, the second-largest Bitcoin corporate holder, MARA Holdings, has unveiled plans to raise $850 million to buy the top cryptocurrency. Incoming institutional interest can spur the Bitcoin price to $130,000 if the crucial support at $110,000 holds.

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Aliyu Pokima

Aliyu Pokima is a seasoned cryptocurrency and emerging technologies journalist with a knack for covering needle-moving stories in the space. Aliyu delivers breaking news stories, regulatory updates, and insightful analysis with depth and precision. When he’s not poring over charts or following leads, Aliyu enjoys playing the bass guitar, lifting weights and running marathons.

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