In a move that surprised absolutely no one in the crypto sphere, MicroStrategy has once again upped its already colossal Bitcoin holdings. The business intelligence firm purchased an additional 2,138 BTC last week, marking the 8th consecutive week of Bitcoin buys. This latest acquisition brings MicroStrategy’s total Bitcoin stash to a staggering 446,400 BTC.
Saylor’s Insatiable Bitcoin Appetite
MicroStrategy’s Executive Chairman Michael Saylor has never been shy about his uber-bullish stance on Bitcoin. The man eats, sleeps, and breathes BTC. So it comes as no shock that he gleefully teased this latest buy on X, his social media platform of choice for all things Bitcoin.
How many more times can I say how much I believe in owning Bitcoin without it being overkill? Trick question because the answer is NEVER.
– Michael Saylor, probably
Saylor’s conviction in Bitcoin is the stuff of legend. The dude has essentially transformed MicroStrategy into a pseudo Bitcoin ETF, much to the chagrin of degen Wall Street bros everywhere. But hey, with Bitcoin now trading above $96,000, it’s hard to fault his logic.
Funding the BTC Shopping Spree
So how exactly does one fund a Bitcoin buying binge of this magnitude? For MicroStrategy, the answer lies in its at-the-market (ATM) program. The company has been steadily selling shares to finance its BTC purchases, to the tune of $6.88 billion leftover in the program.
That’s right, MicroStrategy is essentially selling its own stock to load up on more magic internet money. If that’s not the most crypto flex of all time, I don’t know what is.
Institutional FOMO Incoming?
With MicroStrategy continuing to double down on its already gargantuan Bitcoin position, one can’t help but wonder if other institutions will follow suit. After all, “but MicroStrategy is doing it!” seems like a pretty compelling argument for risk-averse companies looking to dip their toes into the crypto waters.
- PayPal: “Think of how many Bitcoins we could buy with all those Venmo fees…”
- Apple: “Forget the iPhone 24, we’re pivoting to iCoin.”
- JPMorgan: “Look, if Saylor can YOLO into Bitcoin then so can we dammit!”
Okay so maybe that’s a bit of a stretch. But there’s no denying that MicroStrategy’s relentless Bitcoin accumulation is putting pressure on other companies to at least consider a BTC allocation. And with the current macro climate of soaring inflation and shaky fiat currencies, that pressure is only going to intensify.
The Saylor Cycle
At this point, we might need to add a new stage to the classic market cycle chart. Behold, the Saylor Cycle:
- MicroStrategy buys Bitcoin
- Bitcoin price pumps
- Saylor posts laser eyes on X
- Rinse and repeat
Forget Mayer Multiple and Pi Cycle Top, the only indicator that matters now is the frequency of Michael Saylor’s Bitcoin buying tweets. Analysts everywhere are scrambling to factor this into their models as we speak.
The Final HODL
In all seriousness though, you have to respect MicroStrategy’s unwavering commitment to the Bitcoin cause. Through brutal bear markets and euphoric bull runs, Saylor and co. have never wavered in their conviction.
It takes serious cojones to keep buying an asset that the mainstream still largely views as “fake internet money”. But MicroStrategy clearly understands what so many others fail to grasp – Bitcoin is the hardest money the world has ever known. And those who recognize that now will be handsomely rewarded in the future.
When I die, I want to be buried in a mausoleum made of Bitcoin mining rigs…with a crazy laser light show.
– Michael Saylor, five minutes from now probably
So while the haters keep hating and the skeptics keep doubting, MicroStrategy will keep right on stacking sats. And when Bitcoin inevitably reaches its full potential as a global reserve asset and universal unit of account…well, let’s just say the Saylor Victory Lap is going to be a sight to behold.
