Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forum => Topic started by: yhiaali3 on December 17, 2024, 06:17:29 PM
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Michael Saylor, the orchestrator of MicroStrategy’s Bitcoin investment strategy, hinted it bought more Bitcoin over the weekend — marking the firm’s first acquisition with an average purchase price of over $100,000.
In a Dec. 15 post to X, Saylor asked whether MicroStrategy’s Bitcoin (BTC) portfolio tracker SaylorTracker was “missing a green dot” — hinting the Bitcoin-stacking firm has purchased again.
Saylor has posted the SaylorTracker chart for five consecutive Sundays since Nov. 10 and each time, a Bitcoin purchase from MicroStrategy has been confirmed the following day.
If Saylor’s hint is true for the sixth time, it would mean MicroStrategy bought its first Bitcoin batch with an average purchase price of over $100,000, as Bitcoin hasn’t traded below six figures since 5:00 pm UTC on Dec. 13, CoinGecko data shows.
Saylor’s business intelligence firm has confirmed it bought Bitcoin at an average purchase price of $97,862, $95,976 and $98,783 over the last three Mondays from Nov. 25 to Dec. 9, SaylorTracker data shows, buying $1.5 billion and $5.7 billion worth of Bitcoin over those last three batches.
Another batch toward the upper limit of that range would put the firm within arm’s reach of a $50 billion Bitcoin portfolio. As of Dec. 15, the company holds 423,650 Bitcoin worth over $43.6 billion.
It comes just a day before Bitcoin breached a new all-time high of $105,100.
Saylor has said the firm won’t stop buying anytime soon, saying he’s “sure” he’ll still be buying Bitcoin at $1 million.
MSTR has been one of the best-performing stocks on the Nasdaq this year, up an eye-popping 496.4% year-to-date, Google Finance data shows.
Source:
https://www.binance.com/en/square/post/17621391274337
There are some who have criticized this policy of Saylor, such as Peter Schiff, who is known for his criticism of Bitcoin and his support for gold, as he said: “The price of Bitcoin will drop sharply once MicroStrategy stops buying, or if it is forced to sell its holdings due to pressure from creditors.”
This is a great audacity from Michael Saylor to buy Bitcoin at a price above 100 K, this is a very dangerous game that Michael Saylor is playing as he is betting on the continued rise in the price of Bitcoin, but what if the opposite happens?
Do you think this strategy of Saylor is correct or is it just a gamble?
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This is a great audacity from Michael Saylor to buy Bitcoin at a price above 100 K, this is a very dangerous game that Michael Saylor is playing as he is betting on the continued rise in the price of Bitcoin, but what if the opposite happens?
Do you think this strategy of Saylor is correct or is it just a gamble?
I don't know exactly from where he is getting money and how it can relate to gambling, I think a little research should be done if available online, although I came to know in some of the last posts that he is using debt to buy BTC like taking loan on the profit (using profit as collateral) overall if that's really true then it's total risk and things can be damn bad for him.
Not only for him but for the whole market, although at start like before BTC hitting $98k it was a big deal when he was buying now he is buying continuously that I don't even somtimes knew he has bought unless I saw some news, before the hype was too crazy that someone would said it to me on here like in replying to each other.
His buying although making the demand higher and motivating many to invest at current price too I don't think the overall buying would be at an average of $90k even because he is been investing from the very start and making good proofit (Unrealized one AFAIK).
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That is quite a sum but they are probably still in profit after all the recent BTC purchases. I guess another reason for the bold move is that he must have known something is coming like the US Government planning to set up a reserve in bitcoin.
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This is a great audacity from Michael Saylor to buy Bitcoin at a price above 100 K, this is a very dangerous game that Michael Saylor is playing as he is betting on the continued rise in the price of Bitcoin, but what if the opposite happens?
Do you think this strategy of Saylor is correct or is it just a gamble?
Everything we do about every investment is risk and gambling and of course investing at 100k is never a wrong decision taken by him because we know that definitely price most past above 100k even though not this season, it could be in the next bull run to make his profits and he wouldn't panic to sell off his holdings. You know there is no point invest in bitcoin is a waste, if you invest at 100k it's still right investment provided it's a long term investment, then he would cover up his gain and make profit from the next bull run, that is to say the invest must take 4-12 years time before he could make a substantial profits from the investment.
Yes of course people must criticize him or see him as someone who is wasting his money, especially those whom we see to be anti-bitcoin would definitely talks against his investment decisions.
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This is a great audacity from Michael Saylor to buy Bitcoin at a price above 100 K, this is a very dangerous game that Michael Saylor is playing as he is betting on the continued rise in the price of Bitcoin, but what if the opposite happens?
Do you think this strategy of Saylor is correct or is it just a gamble?
I don't know exactly from where he is getting money and how it can relate to gambling, I think a little research should be done if available online, although I came to know in some of the last posts that he is using debt to buy BTC like taking loan on the profit (using profit as collateral) overall if that's really true then it's total risk and things can be damn bad for him.
Not only for him but for the whole market, although at start like before BTC hitting $98k it was a big deal when he was buying now he is buying continuously that I don't even somtimes knew he has bought unless I saw some news, before the hype was too crazy that someone would said it to me on here like in replying to each other.
His buying although making the demand higher and motivating many to invest at current price too I don't think the overall buying would be at an average of $90k even because he is been investing from the very start and making good proofit (Unrealized one AFAIK).
Actually you want to tell about a best comment in your post. I also believe that Saylor could be a great decided in this time. I also see that in this time, when bitcoins price up to $100k then Saylor could purchase Bitcoin. So someone could tell in this time purchase Bitcoin isn't helpful for Saylor. Because Bitcoin price is staying in $100k up. But I think that it would be a best decision for him. Because we know that bitcoin price is increasing day by day in cryptocurrency market. So I believe that Saylor could be accepted by a best decision to purchase Bitcoin.
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- The dedication and passion that Michael Saylor has is so intense, sometimes I wonder where he gets his funds to buy bitcoin. Even when the price is high, he still buys and it doesn't matter if he buys back first or not.
I think he has a vow to himself that he will buy bitcoin as long as he can afford it, because it doesn't matter to him if the price of bitcoin is high as long as he can actually buy it and we don't know how many pieces of bitcoin his target plan is.
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Do you think this strategy of Saylor is correct or is it just a gamble?
Only time can tell what can be verdict as to what Michael Saylor and his MicroStrategy company are doing with their Bitcoin. Now, it would be good to note that so far the man is vindicated with his decisions in the past and his biggest critic Peter Schiff to eat his words when Bitcoin made such many dramatic move upwards while gold is tanking. Michael is quite a brave man as he is staking his name and reputation along the line for Bitcoin and in a way this is a great gamble that is if he can be proven wrong and a great investment strategy if he would be right. Take your pick.
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Isn't everything in life a gamble? I believe you need to risk what you have to gain something. It would be best if you grew to have that piece of pie you want. He has been consistent with his conviction with Bitcoin. I think a green dot will complete his quest above $100k
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That is quite a sum but they are probably still in profit after all the recent BTC purchases. I guess another reason for the bold move is that he must have known something is coming like the US Government planning to set up a reserve in bitcoin.
Yes, I also think that this is one of the reasons that led Saylor to decide to buy at such a high price, he is sure that Trump is preparing a draft law to allow the US government to create a reserve of Bitcoin equivalent to one million Bitcoins, this decision will have a very positive impact in the long run, especially since some other countries have started to think about the same step as I heard, such as Russia and Brazil.
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There are some who have criticized this policy of Saylor, such as Peter Schiff, who is known for his criticism of Bitcoin and his support for gold, as he said: “The price of Bitcoin will drop sharply once MicroStrategy stops buying, or if it is forced to sell its holdings due to pressure from creditors.”
i always say that there is no point in listening to people who clearly has a vendetta against bitcoin and crypto in general this bias they have disallows them to see and criticize bitcoin clearly and properly so everything they say just comes out as pure hate and not even an objective criticism
i wonder what will he say next if microstrategy does indeed stop buying but bitcoin still continues to be successful i am sure he will find another way to discredit bitcoin
This is a great audacity from Michael Saylor to buy Bitcoin at a price above 100 K, this is a very dangerous game that Michael Saylor is playing as he is betting on the continued rise in the price of Bitcoin, but what if the opposite happens?
michael saylor has been an investor for a long time i am sure he knows whats next and whats next after that so i do not think he is playing with fire here he knows what he is doing and he is doing exactly what i would do if i had the amount of money he has