Will MicroStrategy Hit 600K Bitcoin?

MicroStrategy, now rebranded as Strategy, holds 597,325 BTC, valued at nearly $65 billion. Their recent purchase of 4,980 BTC for $531 million marks their 12th consecutive weekly buy, leaving the crypto community wondering if CEO Michael Saylor will continue the streak to surpass the significant 600,000 BTC threshold.

Rising Corporate Bitcoin Treasuries

Strategy's Bitcoin accumulation is closely watched by other firms. Each purchase announcement often triggers a Bitcoin price rally. A recent tweet from Saylor, however, stating "Some weeks you just need to HODL," has introduced some uncertainty about further immediate purchases.

Last week, 18 companies added a combined 8,400 BTC to their reserves, with Strategy leading the charge. This demonstrates a growing trend of corporate Bitcoin adoption and pushes total corporate holdings closer to previously unthinkable levels. BlackRock's IBIT ETF has already surpassed 600,000 BTC, demonstrating significant institutional interest.

Market Impact and Price Predictions

Bitcoin's current price hovers around $108,650, approximately 28% below its all-time high of $111,980. Another purchase by Strategy could push Bitcoin prices higher, potentially exceeding the previous peak. Conversely, a pause in buying could lead to profit-taking and price corrections.

Legal Challenges

Strategy and Saylor are currently facing a class-action lawsuit alleging failure to disclose an unrealized Q1 2025 loss. A negative outcome could significantly impact the company's financial position and potentially hinder future Bitcoin acquisitions.

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