MicroStrategy's Saylor Hints at Bitcoin Dip Buy
MicroStrategy Eyes Bitcoin Dip
MicroStrategy co-founder Michael Saylor recently hinted at an upcoming Bitcoin (BTC) purchase, following a recent price dip from its May 22nd all-time high of $112,000. Saylor tweeted to his 4.3 million followers, "I only buy Bitcoin with money I can't afford to lose."
This follows MicroStrategy's acquisition of 7,390 BTC on May 19th, valued at nearly $765 million, bringing their total holdings to 576,230 BTC. A potential acquisition on May 26th would mark their seventh consecutive week of Bitcoin purchases.
Source: SaylorTracker
MicroStrategy's Bitcoin Strategy
MicroStrategy's significant Bitcoin holdings have made it a major player in the institutional adoption of BTC. Their continued purchases create sustained demand, potentially influencing the cryptocurrency's price. This strategy has inspired other companies to adopt similar Bitcoin treasury plans.
$10 Trillion Valuation?
Market analyst Jeff Walton predicts MicroStrategy could become a $10 trillion company, potentially the world's most valuable publicly traded corporation, due to its massive Bitcoin holdings. Walton highlights MicroStrategy's ability to raise billions of dollars in capital in short periods, a feat most companies struggle to achieve.
Unlike many companies that use capital for operational costs, MicroStrategy strategically invests in Bitcoin, a rapidly appreciating asset, adding significant value to its balance sheet.
Saylor's Long-Term Bitcoin Outlook
Michael Saylor maintains a bullish outlook on Bitcoin, previously predicting a price of millions of dollars per coin in the coming decades. He attributes the current price stagnation to investors taking profits prematurely and lacking long-term conviction.
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