MicroStrategy Ready To Buy Bitcoin Again, Michael Saylor Gives A Strong Signal

MicroStrategy is ready to buy Bitcoin again (Photo; Doc. Coinmarketcap)

JAKARTA - Michael Saylor, executive chair of MicroStrategy, has again attracted the attention of the crypto world with his latest tweet hinting at the possibility of massive Bitcoin purchases. On Sunday, Saylor posted a short message on social media X saying, 'We're going to need a bigger truck,' accompanied by a Bitcoin hashtag. This tweet immediately sparked speculation among the crypto community that MicroStrategy might soon take other bold steps in the acquisition of Bitcoin.

Saylor's tweet received responses from various parties, including from the Solana meme coin project which added, 'We need the entire fleet,' while including a picture of a puppy with a laser eye, which has become a popular symbol among Bitcoin fans.

Under the leadership of Saylor, who graduated from MIT, this Virginia-based technology company has been in the spotlight for its aggressiveness in acquiring Bitcoin. Saylor and his company, MicroStrategy, continue to increase the number of Bitcoins they have at impressive pace, a strategy that gains strong support from the Bitcoin community.

According to Crypto Potato information, earlier this month, MicroStrategy announced plans to raise 2 billion US Dollars (approximately IDR 30 trillion) through the sale of company shares to buy more Bitcoins. In the second quarter of 2024, from April to June, the company has purchased 12,222 BTC worth 805 million US Dollars (approximately IDR 12.4 trillion), which adds their total Bitcoin holdings to 226,500 BTC for a total cost of 8.3 billion US Dollars (approximately IDR 128 trillion).

At the current price of Bitcoin, the Bitcoin MicroStrategy stack is worth around 13.5 billion (approximately IDR 208 trillion). In a recent filing to the US Securities and Exchange Commission (SEC), it is known that South Korea's pension fund recently purchased shares of MicroStrategy worth 34 million US Dollars (approximately IDR 524 billion), which may be the reason behind Saylor's tweet last Sunday.

MicroStrategy (MSTR) shares are currently trading around 130 US Dollars (approximately IDR 2 million) per share, making it 90% cheaper after the 10 to 1 share-breaking done to make stocks more affordable for various investors. This stock-breaking is similar to that of giant companies like Amazon, which suggests that the market sees this stock as a potentially high investment with great growth in the future.