Michael Saylor posts Bitcoin tracker for the 10th consecutive week
Michael Saylor posted the Bitcoin tracker for the 10th consecutive week on January 12, indicating an impending Bitcoin purchase. MicroStrategy currently holds 447,470 BTC, valued at approximately $42.4 billion, following a recent acquisition of 1,070 BTC on January 6. Shares of MicroStrategy are down about 40% from their all-time high of $543 per share due to a general downturn in crypto markets. The company's Bitcoin treasury strategy has sparked debate, with concerns about the sustainability of Saylor's debt-based approach. David Krause warned that a sharp drop in Bitcoin's price could severely impact MicroStrategy's shares and potentially lead to bankruptcy. Despite criticism, Saylor remains committed to the Bitcoin strategy, advocating for corporate adoption and unveiling the "21/21 plan" to finance further acquisitions through $21 billion in equity offerings and fixed-income securities. A potential $2 billion preferred stock offering is also planned, aimed at strengthening the balance sheet and supporting the acquisition of more Bitcoin.
