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Highlights
- Michael Saylor has flashed a classic indicator for an incoming Bitcoin purchase.
- The purchase is tipped to send MicroStrategy's holdings toward 600,000 BTC.
- MicroStrategy has earned over $5 billion in US dollar gains from its Bitcoin treasury operations.
Michael Saylor has flashed the tell-tale sign for an incoming Bitcoin purchase for MicroStrategy. The incoming purchase will be a massive haul for MicroStrategy, with investors jockeying for positions ahead of the market-moving announcement.
Michael Saylor Hints At Incoming Bitcoin Acquisition
MicroStrategy has its sights on a fresh Bitcoin purchase in the coming days after company CEO Michael Saylor hinted at an incoming acquisition. Saylor shared MicroStrategy’s portfolio tracker in an X post, a tell-tale sign typically preceding a Bitcoin purchase announcement.
Michael Saylor’s post was accompanied by a caption hinting at increased buying activity by the software firm. The latest hint follows Saylor’s plans to raise $84B for Bitcoin purchases via stock sales to fund its acquisition spree.
“Too much blue, not enough orange,” said Michael Saylor in an X post.
According to the portfolio tracker, MicroStrategy holds 553,555 BTC worth $52.8 billion at currency prices. Given fresh capital raises, investors are rippling with enthusiasm that the incoming purchase will be the largest by MicroStrategy.
While the incoming purchase is poised to push MicroStrategy’s holdings closer to 600K, the software company holds over 2% of Bitcoin’s total supply. Furthermore, the purchase may see MicroStrategy leapfrog BlackRock in the race to 1 million Bitcoin.
Will The Purchase Move The Markets?
Barely hours after Michael Saylor shared the portfolio tracker with the caption, BTC price climbed by nearly 3%. An actual purchase will send prices on a rally akin to previous BTC acquisition announcements by MicroStrategy.
Bitcoin price has traded sideways for over a week, and markets are eyeing strong fundamentals to power a push to $100,000. Crypto analyst Javon Marks is eyeing a BTC rally to set prices toward $116,652, but it is unclear if MicroStrategy’s purchase will power the rally.
“As for Bitcoin’s target at $116,652, it goes unchanged and prices have made monumental progress in a recovery recently towards it,” said Marks.
Bitcoin trades at $95,000 with indicators pointing northward toward $100K in search of a catalyst to trigger a rally. However, Robert Kiyosaki and Arthur Hayes have predicted the Bitcoin price to $1 million, but Michael Saylor says he will “forever buy the top.”
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