MicroStrategy just bought another 55,000 bitcoin stack over the weekend and the price is still under $100k.
Michael Saylor says MicroStrategy is a Bitcoin Treasury Company.
Here's how he explains it:
Discussion
We're going to see unbelievable buy pressure, with all of the sellers wiped off the map.
this isn't even his final form
insanity 🤣
Not exactly the 100,000 that was predicted but here we go
Wall Street are in disbelief😁😁
#Bitcoin #Nostr
In the last two weeks Saylor has bought more bitcoin than is going to be mined in the next 6 or 7 months. I guess that's the reason the price went up from around $80k to $100k.
In their Q3 2024 Earnings Call they said their 21/21 plan was to buy about $10 billion worth in 2025. But they've now completed all that before 2025 even started, just in Nov 2024. So what happens now? Do they do nothing until 2026? That doesn't seem likely given their track record.