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Is Michael Saylor Buying Bitcoin This Monday?
MicroStrategy appears to restart its Bitcoin buying spree, following a strategic lull in early April. CEO Michael Saylor’s recent X post in which he shared his company’s tracker chart of its Bitcoin holdings and cheekily titled it “No tariffs on Orange Dots.”
Which has fueled fresh rumors of an imminent Michael Saylor Bitcoin buy. Saylor’s orange dots on his chart have traditionally denoted new BTC buys, so his post is a possible tease at new accumulation.
The company now holds 528,185 BTC, which is approximately valued at $44.7 billion. That would be MicroStrategy’s initial Q2 purchase since its gargantuan $2 billion acquisition on March 31. Which placed its holdings at close to 530,000 BTC.
Previously, Saylor’s declarations of the company’s holdings preceded real purchases, sending Bitcoin’s price temporarily soaring. After his latest declaration, BTC briefly shot over $83,000 and now trades at $84,762.
Despite market euphoria, there are still some nervous analysts. Crypto analyst Joao Wedson warned that Bitcoin can still drop to $65,000, referencing strong support levels like the True Market Mean Price and Alpha Price. A drop to that level would severely hurt MicroStrategy, given its average cost of buying $67,458 per BTC.
Analyst also indicated that a steep fall would compel the company to sell MSTR shares to avoid liquidation.
However, Saylor remains unfazed. Characterizing Bitcoin as “driven by chaos,” he remains a BTC proponent in the midst of macroeconomic instability, like escalating US-China trade tensions.
While MicroStrategy’s stock has had recent volatility soaring 10% on Friday before falling 0.69% in after-hours trading the company’s long-term strategy for Bitcoin is not affected.
Whether this move ignites another rally or tests MicroStrategy’s trust in crypto. One thing is for sure: Saylor’s orange dots have once again captured the market’s attention.
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