MicroStrategy CEO Michael Saylor Continues Bitcoin Buying Spree, Unveils Ambitious 21/21 Plan

Known for his staunch advocacy of Bitcoin, Saylor teased the possibility of another substantial BTC purchase with a post on Twitter featuring a chart

Bitcoin maximalist and MicroStrategy CEO Michael Saylor teased another substantial BTC purchase in a post on X on Dec. 29.

“Disconcerting blue lines on SaylorTracker.com,” Saylor announced to his 3.9 million followers on X.

This cryptic message sparked speculation among market participants, as Saylor has a history of posting similar updates ahead of major Bitcoin acquisitions.

Indeed, less than a day later, Saylor announced on X that “MicroStrategy has acquired 2,138 BTC for ~$209 million at ~$97,837 per bitcoin and has achieved BTC Yield of 47.8% QTD and 74.1% YTD. As of 12/29/2024, we hodl 446,400 $BTC acquired for ~$27.9 billion at ~$62,428 per bitcoin.”

MicroStrategy's most recent Bitcoin purchase occurred on Dec. 22, when the company acquired 5,262 BTC for $561 million, averaging $106,662 per coin. This brought its total Bitcoin holdings to 442,262 BTC, valued at about $41.4 billion.

Saylor's commitment to Bitcoin remains unwavering. “I will continue buying BTC at any price,” he has said in the past. Notably, traders and analysts now view MicroStrategy's stock as a proxy for Bitcoin's health, further underscoring the company's influence within the broader crypto market.

In December, MicroStrategy unveiled its 21/21 plan, an initiative to raise $42 billion over three years to fund further Bitcoin purchases. This includes raising $21 billion through equity offerings and another $21 billion via fixed-income corporate securities.

The ambitious plan entails new financing, and to that end, MicroStrategy filed a proxy statement with the U.S. Securities and Exchange Commission to increase its Class A common shares from 330 million to 10.33 billion, along with boosting preferred shares by the same factor from 5 million to 1.005 billion.

The addition of MicroStrategy to the Nasdaq 100 index earlier this year was a significant development not only for the company itself but also for the cryptocurrency market at large.

Since then, some analysts have noted that the potential ripple effects could see institutional visibility and passive funds total as much as $2 billion.

“Success of MicroStrategy is the signal of growing institutional acceptance for Bitcoin,” said one prominent crypto analyst. “This inducted company in Nasdaq 100 acts as a bullish signal to the market.”

The company's stock performance attests to that growing influence, with shares up over 381% year-to-date, compared to Bitcoin's 122% rise in the same period.

Moreover, beyond the Bitcoin buying spree, MicroStrategy is also positioning itself as a thought leading company in the digital asset space. Recently, Saylor outlined a comprehensive framework for the U.S. to enact regarding digital assets, which includes establishing a strategic Bitcoin reserve to counter mounting national debt.

According to Saylor's estimates, such a reserve could generate between $16 trillion and $81 trillion in asset wealth for the U.S. Treasury, while bolstering the dollar's standing as the world's reserve currency.

Indeed, large ambitious plans and a deep commitment to Bitcoin keep the company at the forefront of shaping the narrative in the evolving digital asset landscape, whether through strategic acquisitions or influencing institutional adoption.