U.Today - Prominent Bitcoin supporter and MicroStrategy executive chairman Michael Saylor recently said that Bitcoin is worth all the money in the world. Saylor continues to support his sentiment with action, regularly adding Bitcoin to MicroStrategy's holdings whenever liquidity permits, despite the fact that such a statement may seem overly dramatic. Recent acquisitions show mixed performance when examining MicroStrategy's Bitcoin purchase history.
A total of 2,530 BTC were purchased on Jan. 13, 2025, at an average price of $95,972 per coin. Other recent acquisitions paint a different picture, even though the purchase currently shows a modest profit of $3.06 million (1.5%). An example of how erratic these investments can be is the Dec. 23, 2024, purchase of 5,252 Bitcoin, at a price of $106,862 per coin, which led to a loss of $48 million.
MicroStrategy has established itself as one of the biggest institutional Bitcoin holders over the years. This aggressive accumulation strategy has always paid off in the short run, though, as the company has frequently suffered from fluctuations. Saylor's belief in Bitcoin's long-term worth is evident in his unwavering confidence in the cryptocurrency despite this.
Based on a price chart analysis, Bitcoin is currently trading close to $97,000, with a solid support level forming at $88,000. Bitcoin's ability to maintain above the 50 EMA, a critical indicator, indicates that a bullish trend may continue. Any upward breakout would be difficult in the near future, though, because there is still a lot of resistance around $100,000.
Together with MicroStrategy's buying patterns, Saylor's steadfast devotion to Bitcoin highlights the institutional consensus regarding its potential. These actions show faith in Bitcoin as a long-term store of value even though short-term volatility is unavoidable. For the time being, MicroStrategy's position is unambiguous: place a large wager on Bitcoin. It remains to be seen if this approach turns out to be prudent in the years ahead.