MicroStrategy signals new Bitcoin buy after US$2 billion purchase, eyes US$42 billion expansion

Software company MicroStrategy may add to its Bitcoin holdings just days after acquiring 27,200 BTC, according to hints from co-founder Michael Saylor.

“[We need]more green dots,” Saylor posted on X, referring to markers tracking the company’s Bitcoin purchases. 

A similar statement last Sunday preceded Monday’s US$2 billion Bitcoin acquisition announcement.

MicroStrategy currently holds 279,420 BTC — valued at approximately US$25 billion at Bitcoin’s US$90,000 price level — surpassing the cash reserves of IBM, Nike, and Johnson & Johnson, according to Bloomberg. 

The company’s unrealized Bitcoin profits now exceed US$13 billion.

The potential purchase aligns with MicroStrategy’s newly revealed “21/21 plan” — a strategy to raise US$42 billion over three years through US$21 billion in new shares and US$21 billion in convertible debt.

Saylor previously outlined plans to position MicroStrategy as a leading Bitcoin bank, projecting company valuations between US$300 billion and US$1 trillion depending on Bitcoin’s performance.

In another recent tweet, Saylor asked his followers whether they thought Bitcoin would reach US$100,000 before the year’s end, to which an overwhelming majority predicted yes.

MicroStrategy’s stock has gained over 430% this year, tracking Bitcoin’s rise since beginning its cryptocurrency investments in August 2020.

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