The post Michael Saylor’s MicroStrategy Buys More Bitcoin appeared on BitcoinEthereumNews.com.

MicroStrategy, the largest corporate holder of Bitcoin, has once again bought more Bitcoin. Known for his staunch advocacy of Bitcoin, Saylor teased the possibility of another substantial BTC purchase with a post on X featuring a chart from SaylorTracker, a platform dedicated to tracking MicroStrategy’s Bitcoin holdings. “Disconcerting blue lines on SaylorTracker.com,” Saylor wrote to his 3.9 million followers on Dec. 29. This enigmatic message has fueled speculation among market participants, as Saylor has a history of posting similar updates before significant Bitcoin acquisitions. Sure enough, less than a day later, Saylor announced on X that “MicroStrategy has acquired 2,138 BTC for ~$209 million at ~$97,837 per bitcoin and has achieved BTC Yield of 47.8% QTD and 74.1% YTD. As of 12/29/2024, we hodl 446,400 $BTC acquired for ~$27.9 billion at ~$62,428 per bitcoin.” Source: X A History of Strategic Bitcoin Buys MicroStrategy’s most recent Bitcoin purchase occurred on Dec. 22, when the company acquired 5,262 BTC for $561 million, averaging $106,662 per coin. This brought its total Bitcoin holdings to 442,262 BTC, valued at approximately $41.4 billion. Source: Michael Saylor via X Saylor’s commitment to Bitcoin remains unwavering. “I will continue buying BTC at any price,” he has stated in the past. Traders and analysts now see MicroStrategy’s stock as a proxy for Bitcoin’s health, further underscoring the company’s influence on the broader crypto market. The Ambitious 21/21 Plan In December, MicroStrategy revealed its 21/21 plan, a program designed to raise $42 billion over three years to fund further Bitcoin purchases. This includes raising $21 billion with equity offerings and another $21 billion through fixed-income corporate securities. The ambitious plan needs new financing, hence, MicroStrategy filed a proxy statement to the U.S. Securities and Exchange Commission that boosts its Class A common shares from 330 million to 10.33 billion,…

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Filed under: News - @ January 2, 2025 9:21 pm