MicroStrategy’s CEO Michael Saylor has sparked speculation among investors about the company’s plans for buying more Bitcoin. On December 29, he posted a chart on his website showing the Bitcoin price trend, which typically precedes a new purchase announcement.
Saylor said that the “disconcerting blue lines” in the chart raised concerns among him and other market participants. The post prompted discussions about whether Saylor would make another Bitcoin buy on Monday.
Last week, MicroStrategy announced its latest Bitcoin purchase, acquiring 5,200 coins at an average price of $106,000 per coin, totaling $92,466. This marked the company’s smallest acquisition since July.
Saylor has stated that he will continue buying Bitcoin regardless of the price. Traders view MicroStrategy as a high-leverage bet on Bitcoin’s overall health and see it as closely tied to the digital asset market’s growth.
The 21/21 plan aims to raise $42 billion over three years through equity offerings and fixed-income securities to fund further Bitcoin acquisitions. Saylor recently proposed a comprehensive framework for digital assets in the US, including a strategic reserve that could offset national debt by providing the Treasury with between $16 trillion to $81 trillion.
The plan also includes a goal to grow the market capitalization of the digital asset sector to $10 trillion, which would drive demand for the US dollar and government securities backing stablecoins like Tether’s USDt.
Source: https://cointelegraph.com/news/michael-saylor-posts-btc-chart-hints-impending-purchase