As a seasoned researcher who has closely followed the evolution of Bitcoin and its influential figures over the years, I find myself continually captivated by the unconventional strategies of Michael Saylor, executive chairman of MicroStrategy. His recent tweet, “Running Bitcoin,” is yet another example of his unique approach to promoting the world’s leading digital currency.
Michael Saylor, the creator and current executive chair of MicroStrategy – a leading business intelligence software company, utilized his account on the popularly known X social media site (previously recognized as Twitter) to share a Bitcoin-related statement with the international cryptocurrency network.
This incident unfolded when the leading global digital currency displayed indications of recovery and surpassing the $60,000 threshold for a second time. Notably, MicroStrategy had previously announced another substantial Bitcoin investment opportunity to its shareholders, hours before this event.
“Running Bitcoin”: Michael Saylor
Saylor published a tweet which says “Running Bitcoin” which features Saylor as a football player running during a game across the football field dresses in orange uniform, which is the colour of Bitcoin. The number on his T-shirt is 21 which refers to the 21 million coin Bitcoin supply created y Satoshi Nakamoto.
Running #Bitcoin
— Michael Saylor⚡️ (@saylor) September 17, 2024
In the last few hours, Bitcoin has shown a nearly 2.76% rise, approaching the $60,000 price mark. Earlier on Monday, however, BTC experienced a significant drop of about 4.55%, falling from $60,358 to the vicinity of $57,600.
On March 14th of this year, Bitcoin achieved an unprecedented high of $73,750. At present, each Bitcoin transaction is happening approximately 19.55% lower than that record price. Interestingly, this was the first instance in Bitcoin’s history where a new record-breaking price peak occurred prior to a highly anticipated halving event, instead of after it.
Recently, Saylor’s company disclosed their acquisition of a substantial Bitcoin hoard consisting of 18,300 BTC, which is equivalent to around $1.1 billion in traditional currency. With this latest purchase, MicroStrategy now owns a total of approximately 244,800 Bitcoins, valued at roughly $14.7 billion. This massive cryptocurrency collection represents about 1.17% of the total Bitcoin supply of 21 million coins. In fact, MicroStrategy’s Bitcoin holdings surpass those of most spot BTC exchange-traded funds that were introduced in January.
MicroStrategy to issue more debt to get more Bitcoin
According to a report from U.Today, Michael Saylor’s company is planning another sale of its convertible senior notes, aiming to collect approximately $700 million more to further invest in Bitcoin, the largest cryptocurrency.
At a future time, investors can exchange these notes for shares of MSTR, and they’ll also earn interest. In essence, MicroStrategy acted like a Bitcoin Spot Exchange-Traded Fund (ETF) prior to the launch of such ETFs in the market.
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2024-09-17 16:21