DIGIVESTASI - On December 28, Michael Saylor took to the social media platform X to share insights about the SaylorTracker portfolio, a tool for monitoring Bitcoin purchases by MicroStrategy.

Indication of a New Bitcoin Purchase?

In his post, Saylor mentioned a "mysterious blue line" on SaylorTracker, sparking speculation about the potential for a large-scale Bitcoin purchase in the near future. Over the past few weeks, similar statements from Saylor have often preceded official announcements of significant Bitcoin acquisitions.

"A mysterious blue line on SaylorTracker," Saylor wrote in his post.

To date, MicroStrategy has accumulated over 192,042 Bitcoin with a total investment of approximately $18 billion. During this time, Bitcoin's price surged from $67,000 to $108,000, while MicroStrategy's stock value increased more than fivefold this year. The company's shares are now trading at around $360, marking a 400% year-to-date increase.

MicroStrategy and Its Focus on Bitcoin

The performance of MicroStrategy's stock, now part of the Nasdaq-100, has been remarkable. The company’s shift in focus from data analytics to Bitcoin accumulation has made it the largest public holder of this cryptocurrency. However, this aggressive approach has not been without criticism.

Some market participants argue that Saylor's Bitcoin purchase announcements often create market volatility. Critics claim that after the purchases are announced, day traders frequently short-sell Bitcoin, causing its price to correct and MicroStrategy's stock value to decline.

“The problem with Saylor’s purchases is that he announces them, and then day traders immediately start shorting Bitcoin because they know the large buyer is done buying. As a result, Bitcoin corrects, and $MSTR shares go down instead of up,” said a crypto trader.

Additionally, some have pointed out a pattern in MicroStrategy's purchases, which appear to align with plans for a blackout period in January when the company will temporarily halt Bitcoin acquisitions.

What’s Next for MicroStrategy?

Despite this, early indications suggest that MicroStrategy’s Bitcoin purchases will not stop anytime soon. As part of its forward strategy, the company has proposed increasing the number of authorized shares, including Class A common stock and preferred stock. The proposal aims to expand the number of Class A shares from 330 million to over 10 billion and preferred shares from 5 million to 1 billion.

Market observers believe this move will significantly enhance MicroStrategy’s capacity to issue new shares in the future, thereby enabling additional funding allocations for Bitcoin purchases.

Temukan berita dan artikel lainnya di Google News