Big Incoming Bitcoin Buy? Michael Saylor Playful BTC Tweet

On Sunday, MicroStrategy Executive Chairman Michael Saylor posted on X: “We’re going to need a bigger truck,” tagged Bitcoin. Could it hint at bold crypto moves for your company?

We will need a bigger truck. #Bitcoin pic.twitter.com/4cReSyYdrl

— Michael Saylor⚡️ (@saylor) August 18, 2024

“I’m gonna need a whole fleet,” a Solana meme coin project replied in response to Saylor’s weekend Bitcoin post, while adding a lazer-eyed puppy to his reply.

Under the leadership of MIT-educated founder Michael Saylor, the Virginia-based business intelligence and cloud services company has been snapping up Bitcoin like there’s no tomorrow.

Saylor’s peers in the online Bitcoin community vehemently agree with his company’s strategy.

MicroStrategy’s Bitcoin Purchase

Earlier this month, MicroStrategy announced that it would raise $2 billion to buy more Bitcoin by selling corporate shares. On August 1, the company announced its sales of Class A shares in a regulatory filing with the US Securities and Exchange Commission.

In the second quarter of 2024, from early April to June, MicroStrategy bought 12,222 BTC for $805 million, bringing its total available Bitcoin to 226,500 BTC, at a total cost to MicroStrategy of only 8.3 billion dollars.

At the prevailing Bitcoin price on crypto exchanges on Sunday, August 18, this stack of Bitcoin is worth about $13.5 billion. According to a new SEC filing, the South Korean pension fund recently bought $34 million worth of MSTR shares, which could be the inspiration behind Saylor’s tweet on Sunday.

MSTR stock could be for sale

MicroStrategy stock may be for sale, but on-chain Bitcoin could offer investors more security while still being as easy to buy as stocks in 2024.

The reason MSTR stock could be on sale: It’s now trading around $130 per share. This makes them 90% cheaper after a 10-to-1 stock split to make the shares more affordable for a wider range of investors.

Amazon has done this a handful of times in its history as a publicly traded company. It indicates that the company and the financial markets view its stock as a high-growth investment with great upside going forward.

But retail investors who want to keep it simple are stuck with “holding” their Bitcoin on-chain in wallets. Or they prefer to trade it daily on Bitcoin price markets on crypto exchanges to accumulate faster.

Although in August, the markets are being cautious across the board and in the crypto markets. Here are three bearish and two bullish signs to watch for Bitcoin price in August.

SPECIAL OFFER (Sponsored) Binance Free $600 (Exclusive to CryptoPotato): Use this link to register a new account and receive an exclusive welcome offer of $600 to Binance (full details).

2024 LIMITED OFFER on BYDFi Exchange – Up to $2888 Welcome Reward, Use this link to register and open a 100 USDT-M position for free!