Will Michael Saylor MicroStrategy buy more Bitcoin? As Bears control Bitcoin price – 99Bitcoin’s analysts believe any recovery above $96k could spark mega altcoin rally – here’s why.
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remains volatile at press time, and holders find it difficult to HODL. As volatility spikes and prices inch closer to $90,000, hundreds of millions of leverage-long positions have been liquidated across multiple crypto exchanges.
However, in a bold display of commitment, MicroStrategy has been stacking more BTC over the past few weeks. This strategy is despite the world’s most valuable coin falling from around $102,000 registered in early January.
The question now remains: Will MicroStrategy buy the dip?
It looks like that would be the case.
On January 12, Michael Saylor, the co-founder of the business intelligence firm, took to X and posted the Bitcoin tracker for the 10th consecutive week.
Thinking about the next green dot on https://t.co/Bx3917zeAK. pic.twitter.com/dCIhEzRLuW
— Michael Saylor
(@saylor) January 12, 2025
Given that similar posts have previously preceded MicroStrategy acquisitions, it is unsurprising that crypto and Bitcoin supporters have reignited discussions about a potential purchase in the coming days.
Will MicroStrategy Stack More BTC?
Data from the SaylorTracker shows that MicroStrategy currently holds 447,470 BTC worth over $41 billion at spot rates.
On January 6, the business intelligence firm bought 1,070 BTC, a day after Saylor posted the tracker.
With the former chairman tweeting the tracker again, will MicroStrategy load up, especially now that BTC is in a dicey position?
Though lauded by some as visionary, their accumulation strategy has not been without criticism.
Some think MicroStrategy’s exposure to what they describe as a “speculative asset” is risky. Additionally, there are concerns about whether their debt approach is sustainable now that BTC is generally more volatile.
The mounting debts and high BTC volatility could significantly affect the firm’s financial health.
There are hints of how fragile the MSTR stock is.
As Bitcoin prices tank, MSTR prices have been increasingly volatile. They are down over 35% from their all-time high of around $475 in Q4 2024.
(Source)
Even so, despite the criticism, MicroStrategy isn’t slowing down on its approach. The firm announced its ambitious “21/21” plan, which involves raising $42 billion to purchase even more BTC.
They will issue $21 billion in shares and another $21 billion in bonds. Additionally, they are exploring issuing another $2 billion of preferred stock to boost their liquidity further. The issuance will be separate from the “21/21” plan.
Will Bitcoin Price Recover and Altcoin Season Arrive?
MicroStrategy could surprise the market by buying more coins this week.
For now, the focus is on how bulls can soak in all the selling pressure.
The inability of bears to push prices below the psychological $90,000 level is seen as bullish.
If sellers press on, breaching this level in the next few days, Bitcoin could crash, dragging altcoins even lower.
(BTCUSDT)
Conversely, any recovery above $96,000 and $100,000 may offer a perfect launch pad for prices to rally above $108,000 in a buy-trend continuation pattern.
This uptick would provide major tailwinds for altcoins for Ethereum, Solana, Dogecoin, and even Tron. When writing, they are down, on average, 15% over the last trading week.
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The post Saylor Targets Another Bitcoin Buy: Will Bitcoin Bounce and When Is Altcoin Season? appeared first on 99Bitcoins.
