Michael Saylor Likely to Purchase More Bitcoin Before 2024 Ends, Teases a BTC Chart

MicroStrategy co-founder Michael Saylor teased a new Bitcoin chart on Sunday, raising speculation of another wave of Bitcoin purchases.

On X, he posted a chart from SaylorTracker, a platform that tracks MicroStrategy’s Bitcoin purchases. MicroStrategy currently holds 442,262 BTC (approx $41.4 billion).

“Disconcerting blue lines on SaylorTracker.com,” he wrote in his post.

Saylor has a history of posting on Sundays before his Bitcoin purchases the next day. For instance, the company bought 5,262 BTC for a total of $561 million in the week ending Dec. 22. Saylor teased the purchase in a Sunday post on X. The history of buying Bitcoins on Mondays has caught the market’s attention.

Michael Saylor’s Bitcoin chart prompted a deluge of replies from market participants, as this could be MicroStrategy’s last purchase of 2024. Additionally, many players see the company as a pivotal player in the crypto market, given its strategic Bitcoin acquisitions in the past.

MicroStrategy’s Proposal to Buy More BTC, Journey to the Nasdaq 100

The largest corporate holder of Bitcoin recently sought shareholder approval to increase its shares in order to enhance its ability to buy more Bitcoins.

MicroStrategy filed a proxy statement with the US Securities and Exchange Commission (SEC) to raise its Class A common shares from 330 million to 10.33 billion and its preferred shares from 5 million to 1.005 billion.

Further, MicroStrategy has joined the Nasdaq 100 index, marking a significant milestone for the company and the broader cryptocurrency market.

Analysts from Cryptorush, an online crypto gaming company, shared insights on MicroStrategy’s listing on Nasdaq. In an email to Cryptonews, the experts noted that the news ignites the potential ripple effects on Bitcoin prices and the overall crypto ecosystem.

“MicroStrategy’s success is a testament to the growing institutional acceptance of Bitcoin,” a leading crypto analyst from Cryptorush told Cryptonews. “Its inclusion in the Nasdaq 100 could act as a bullish signal for the market.”

The analysts noted that following the company’s listing on the Nasdaq, there would be passive fund inflows estimated at up to $2 billion. Additionally, there would be a boost in stock value and increased institutional visibility.

“MicroStrategy’s inclusion in the NASDAQ 100 is not just a win for the company but a potential game-changer for Bitcoin and the cryptocurrency industry at large.”