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

BitcoinMichael SaylorMicroStrategy

MicroStrategy currently holds 442,262 BTC.

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Sujha Sundararajan

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Last updated:

December 30, 2024 at 07:20 GMT+1

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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 Bold Move: Buying More Bitcoin and Joining the Nasdaq 100

MicroStrategy, the world’s largest corporate holder of Bitcoin, is making waves again. In a move that could change the landscape for both the company and the broader cryptocurrency market, MicroStrategy has filed a proposal with the U.S. Securities and Exchange Commission (SEC) to increase its stock shares. The goal? To bolster its ability to acquire even more Bitcoin. This latest strategic shift comes alongside another milestone: MicroStrategy’s inclusion in the Nasdaq 100 index.

Let’s dive into what this means for MicroStrategy, Bitcoin, and the future of cryptocurrency.

MicroStrategy’s Plan to Increase Shares

In its recent SEC filing, MicroStrategy proposed raising its Class A common shares from 330 million to a staggering 10.33 billion and its preferred shares from 5 million to 1.005 billion. This ambitious move aims to enhance the company’s financial flexibility, allowing it to continue its Bitcoin acquisition strategy.

As of now, MicroStrategy has over 160,000 Bitcoins in its corporate treasury. The new proposal would further solidify its position as the largest corporate Bitcoin holder and expand its buying power. This bold step not only reinforces the company’s commitment to Bitcoin but also signals its belief in the long-term value of digital assets.

While this increase in shares is significant, it’s part of a larger strategy that seeks to capitalize on Bitcoin’s potential as a store of value and hedge against inflation. The company’s decision to double down on Bitcoin is becoming increasingly influential in the institutional acceptance of cryptocurrencies.

MicroStrategy Joins the Nasdaq 100

In addition to its ambitious plans for Bitcoin, MicroStrategy has achieved another noteworthy milestone: it’s now a part of the Nasdaq 100 index. For a company like MicroStrategy, which has made its mark in the tech and financial sectors, joining this prestigious index is a major achievement. For the cryptocurrency community, it’s even more impactful.

Analysts from Cryptorush, an online crypto gaming platform, have weighed in on the significance of MicroStrategy’s Nasdaq 100 inclusion. In an email to Cryptonews, they pointed out that the news could spark a ripple effect throughout the broader crypto ecosystem. MicroStrategy’s Nasdaq 100 listing could be a signal to institutional investors that Bitcoin and the wider crypto market are becoming more mainstream.

Implications for Bitcoin Prices and the Crypto Market

The inclusion of MicroStrategy in the Nasdaq 100 has the potential to send powerful ripples through the financial world. First, there’s the potential for passive fund inflows of up to $2 billion. This would likely come from institutional funds and passive investment vehicles that track the Nasdaq 100.

But the impact doesn’t stop there. MicroStrategy’s listing could result in a boost to its stock value, driving up its market capitalization. Additionally, the increased institutional visibility would likely attract more attention to the company’s Bitcoin strategy and the broader crypto market.

As one analyst from Cryptorush explained, “MicroStrategy’s success is a testament to the growing institutional acceptance of Bitcoin.” This sentiment is gaining traction across the industry, as more companies and institutional players recognize the value of digital assets.

A Game-Changer for Bitcoin and Crypto

The real significance of MicroStrategy’s Nasdaq 100 listing isn’t just about the company’s stock price or its Bitcoin holdings. It’s about the broader message this sends to the world of finance: Bitcoin is here to stay. The company’s inclusion in one of the most prestigious stock indices in the world serves as a powerful endorsement of Bitcoin’s legitimacy as a financial asset.

MicroStrategy’s aggressive Bitcoin strategy and its listing on the Nasdaq 100 could act as a bullish signal for Bitcoin prices. As more institutions follow suit, the mainstream acceptance of Bitcoin could become a reality—transforming the digital currency from a speculative asset to an essential component of institutional portfolios.

Conclusion: A Win for MicroStrategy and the Crypto Ecosystem

MicroStrategy’s proposal to increase its shares and its inclusion in the Nasdaq 100 represent major milestones for both the company and the cryptocurrency market. As the largest corporate holder of Bitcoin, the company is making moves that could reverberate throughout the entire crypto ecosystem.

With institutional players like MicroStrategy continuing to embrace Bitcoin, the cryptocurrency market is poised for a new era of growth and legitimacy. As MicroStrategy increases its Bitcoin holdings and secures its place among the Nasdaq 100, the potential for Bitcoin to achieve broader institutional adoption is greater than ever before. This is a significant moment for the crypto space—and it’s just the beginning.