MicroStrategy co-founder Michael Saylor has strongly hinted at future Bitcoin purchases in a recent social media post on the X platform.
Saylor posted a screenshot of a MicroStrategy portfolio tracker that logs all of the company’s purchases. These purchases are represented by green dots on the chart.
MicroStrategy’s current portfolio value stands at a whopping $25.5 billion.
“I think http://saylortracker.com needs even more green dots,” Saylor quipped in the social media post.
As reported by U.Today, Saylor announced a stunning $2 billion Bitcoin purchase less than a week ago. It pushed MicroStrategy’s average purchase price to the $43,000 mark.
Related
MicroStrategy has adopted an audacious debt-for-bitcoin strategy in order to become the biggest Bitcoin holder by a large margin. The company offers either convertible notes or senior secured notes to fund its purchases.
As reported by U.Today, the company announced its intention to raise a mammoth $42 billion for its purchases.
So far, the strategy has done wonders for the company. The MicroStrategy (MSTR) stock recently hit a new record peak for the first time in more than two decades.
However, BitMEX Research recently warned that MicroStrategy’s “infinite money glitch” was not going to last forever. The company could be forced to sell its Bitcoin holdings to finance the cash redemption of the bonds if there is a massive Bitcoin price crash. Moreover, shareholders could start pressuring the company to liquidate its holdings to raise more money if the stock starts trading at a significant discount.
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