In a move that has captured the attention of the cryptocurrency world, Michael Saylor, co-founder of MicroStrategy, recently posted a Bitcoin (BTC) tracker on his social media, suggesting that the company may make yet another significant acquisition. This comes as MicroStrategy continues to bolster its Bitcoin holdings, which now amount to an impressive 446,400 BTC, valued at approximately $43.7 billion. The data shared via the SaylorTracker website illustrates the firm’s aggressive corporate treasury strategy centered around cryptocurrency.
On January 5, Saylor tweeted the Bitcoin chart, a routine that precedes his usual announcement of a purchase every Monday. His cryptic message, “Something about SaylorTracker.com is not quite right,” has led many to speculate about a potential buy. Just a week prior, the company made headlines for acquiring 2,138 BTC at a staggering average price of $97,837 per coin, prompting discussions surrounding their next steps.
MicroStrategy’s ambitious goals do not stop there. With the company eyeing an even larger portfolio, their 21/21 plan aims to fund the acquisition of $42 billion in Bitcoin by leveraging $21 billion in equity alongside $21 billion through fixed-income securities. This strategy aims to amplify their already significant footprint in the world of cryptocurrency investments.
Furthermore, MicroStrategy’s recent inclusion in the Nasdaq 100 stock index signifies a pivotal moment for traditional investors. This index comprises the largest companies on the Nasdaq exchange, and MicroStrategy’s presence enables investors to gain indirect exposure to Bitcoin through exchange-traded funds. Following this inclusion, the company called for a special shareholders meeting to discuss increasing the number of class A common stocks from 330 million to an astonishing 10.3 billion shares.
In addition, a recent filing with the Securities and Exchange Commission (SEC) reveals that MicroStrategy is pursuing a $2 billion raise through a perpetual preferred stock offering, designed to take precedence over common stocks in the event of bankruptcy. This move is part of a broader tactic to optimize funding for their ongoing Bitcoin acquisition efforts, with expectations to finalize this offering by the first quarter of 2024.
