cryptobriefing.com
Michael Saylor, co-founder of MicroStrategy, has hinted at a potential new Bitcoin acquisition following the company’s recent purchase of 27,200 Bitcoin between October 31 and November 10.
Saylor stated in a recent post on X that MicroStrategy’s portfolio tracker needs more “green dots.”
These dots refer to visual markers that indicate each instance of Bitcoin purchased by MicroStrategy, sparking speculation that the company may soon reveal additional Bitcoin investments.
I think https://t.co/meaZhpFNq9 needs even more green dots. pic.twitter.com/Rs5hgrnbAm
— Michael Saylor⚡️ (@saylor) November 17, 2024
Saylor made a similar statement last Sunday, and the following day, MicroStrategy announced it had added $2 billion worth of Bitcoin to its holdings.
MicroStrategy’s Bitcoin holdings, now totaling 279,420 BTC, are valued at about $25 billion with Bitcoin trading at around $90,000. This surpasses the cash reserves of major corporations including IBM, Nike, and Johnson & Johnson, according to Bloomberg.
The world’s largest corporate Bitcoin holder has achieved over $13 billion in unrealized profits from its Bitcoin investments.
MicroStrategy’s 21/21 plan and Bitcoin bank vision
MicroStrategy targets raising $42 billion over the next three years to fund its Bitcoin purchases.
The strategy, outlined in its third-quarter earnings report, is aimed at $21 billion raised through issuing new shares and another $21 billion through convertible debt or other fixed-income instruments.
Saylor shared in an October interview with Bernstein that the company’s ultimate goal is to become the leading Bitcoin bank. He and MicroStrategy are betting on a long-term bullish outlook for Bitcoin, projecting astronomical growth in the company’s valuation—potentially reaching between $300 billion and $400 billion, or even $1 trillion if Bitcoin’s value surges to millions of dollars.
MicroStrategy’s stock price has risen astronomically this year—over 430%—in line with rising Bitcoin values, Yahoo Finance data shows. Since MicroStrategy began purchasing Bitcoin in August 2020, its stock has dramatically outperformed other major stocks.