Bitcoin

<h2 id="key-points">Key Points</h2> 
<ul> 
 <li>MicroStrategy co-founder, Michael Saylor, hints at a potential Bitcoin purchase from recent bond sale proceeds.</li> 
 <li>This acquisition could potentially propel Bitcoin towards the elusive $100K mark.</li> 
</ul>  
<p>Michael Saylor, the co-creator of MicroStrategy, has given a subtle hint about a possible <a href="https://coineagle.com/price/bitcoin/">Bitcoin</a> acquisition using the proceeds from the company’s latest bond sale.</p> 
<p>In a post dated November 24, Saylor suggested that the company needs to increase its Bitcoin holdings. His previous similar post was followed by a bid for 51.78K Bitcoin, leading to expectations of a similar move this time around, possibly a $3 billion purchase from the latest bond sale.</p> 
<h2 id="will-this-move-take-bitcoin-to-100k">Will this move take Bitcoin to $100K?</h2> 
<p>At present, MicroStrategy holds 331,200 Bitcoin, valued at over $32 billion. The company has previously expressed ambitious plans to acquire $42 billion worth of Bitcoin through a 21/21 strategy.</p> 
<p>This strategy involves buying $21 billion worth of Bitcoin using debt, and funding the remaining amount through the issuance of shares. The company’s recent actions suggest that this plan is now in full swing.</p> 
<p>As a surrogate for Bitcoin, MicroStrategy’s stock, MSTR, has seen significant growth, fueled by the volatility of the cryptocurrency and the company’s substantial Bitcoin holdings.</p> 
<p>According to Amberdata, an options analytics firm, MSTR’s implied volatility has remained high, indicating that the company may sell more debt and shares to acquire more Bitcoin. This could potentially boost both MSTR and Bitcoin in the short term.</p> 
<h2 id="bitcoin-s-100k-target">Bitcoin’s $100K Target</h2> 
<p>As of now, Bitcoin is valued at $98.3K after a 9% rally last week. However, the highly anticipated $100K target remained unattained over the weekend in the spot market.</p> 
<p>Interestingly, CME Bitcoin Futures reached a new all-time high of $100,170, increasing expectations that the spot market could soon reach the $100K milestone. Whether this will be accelerated by Saylor’s announcement remains to be seen.</p> 
<p>Meanwhile, MSTR is currently valued at $421, a 6% increase before the US market opened on November 25th. Market experts are predicting more front-running for the stock ahead of its potential inclusion in the Nasdaq 100 before December 2024.</p>

Could Michael Saylor’s $3B Bitcoin Investment Skyrocket BTC Over $100K?

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CoinEagle.com

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