RUMOUR: Microstrategy is going to buy $42 BILLION worth of Bitcoin!!

By 0xjenka.base.eth | Rumour: | 31 Oct 2024


Michael Saylor, Microstrategy's founder, has just announced that the company plan to raise a jaw dropping $42 Billion over the next 3 years to purchase more Bitcoin. 

The company plan to raise $21B through equity offerings, with the other $21B raised through debt.

By making the plan public, it is my opinion that Saylor is trying to ease any concerns other corporations have about Bitcoins volatility.  The more corporation's that buy into the Bitcoin Strategy, the better it is for Microstrategy, as they were the first, and are currently the corporation holding the most Bitcoin on their Treasury balance sheet.

What does this mean to you?  Hopefully if Microstrategy do acquire the funds and continue to buy Bitcoin, it means an end to the sharp 70% retracements that we've witnessed in Bitcoins price in the past.  For now though, just a Rumour.

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