Posted: November 19, 2024

• Co-founder Michael Saylor teased more Bitcoin purchases for MicroStrategy.
• BitwiseInvest’s exec also hailed MSTR as essential for high-reward strategies.

As Bitcoin [BTC] peaked at new highs over $90,000, MicroStrategy co-founder Michael Saylor has strongly hinted at future Bitcoin purchases. In a recent social media post on the X platform, Saylor said,

 “I think Saylortracker.com needs even more green dots.” 

The comment accompanied a screenshot of the company’s Bitcoin portfolio tracker, which visually represented MicroStrategy’s Bitcoin purchases as green dots.

At press time, the portfolio’s value stood at a staggering $25.7 billion. Meanwhile, Bitcoin traded at $91,935.03, up by 2.38% over the past day, according to Google Finance.

MicroStrategy’s Bitcoin buying spree

While the latest bull run has sparked FOMO among some investors, concerns have also emerged about whether it’s too late to get into Bitcoin.

 However, Saylor has displayed continued interest and belief in the cryptocurrency, having consistently bought since 2020.

According to Saylortracker, MicroStrategy made 11 Bitcoin purchases in 2024 alone.

Its most recent acquisition on the 11th of November saw the company buy 27,200 BTC for approximately $2.03 billion at an average price of $74,463 per Bitcoin. 

MSTR surpasses Berkshire Hathaway

MicroStrategy’s Bitcoin strategy was paying off not only in crypto holdings but also in its stock performance. A chart shared by financial markets tracker Barchart showed that MSTR stock was outperforming Warren Buffett’s Berkshire Hathaway [BRK]. 

MSTR stock and Berkshire Hathaway’s BRK Class B stock revealed a ratio of 0.72, rapidly approaching levels seen during the dot-com bubble.

For those unfamiliar, the dot-com bubble refers to the rapid rise and subsequent fall of internet-based company stocks in the late 1990s. 

Earlier, AMBCrypto reported that MicroStrategy stock had reached a 25-year high, a testament to the market’s recognition of its Bitcoin-focused strategy.

Bitcoin volatility: A strategic opportunity

Meanwhile, Jeff Park, Head of Alpha Strategies at Bitwise Invest, recently weighed in on the synergy between Bitcoin and MicroStrategy on X. He stated, 

“Bitcoin and MSTR are a perfect match for volatility strategies, but only if you know how to capitalize on them.” 

Park emphasized the importance of quantitative methods in navigating the probabilistic nature of market movements.

The case for MSTR

In another post, the exec offered a more direct endorsement of MicroStrategy stock, noting that,

“Everyone needs to own at least $34,065 worth of $MSTR.”

He argued that owning MSTR provides investors with a unique opportunity to achieve exceptional yields, making it a must-have for high-reward seekers.

As Bitcoin continues to climb and institutional interest deepens, MicroStrategy’s aggressive strategy positions it as a central player in the evolving cryptocurrency landscape. 

With the dual momentum of Bitcoin’s price surge and MSTR’s stock performance, the company’s bold bet appears to be paying off.