MicroStrategy (MSTR), led by Michael Saylor, has signaled intentions to make additional Bitcoin purchases, as indicated by Saylor's recent social media activity and public statements. Saylor posted the company's Bitcoin tracker chart, which is often interpreted as a precursor to an imminent Bitcoin acquisition.
Saylor reiterated his approach, stating, "I only buy bitcoin with money I can't afford to lose," and "The only thing better than Bitcoin is More Bitcoin." There is speculation about whether MicroStrategy will purchase above 10,000 BTC this week.
MicroStrategy's stock has experienced volatility, with shares down 5.5% on the day and 30% below November highs. The company has recently seen high trading volumes, with 18 million shares traded per day, representing 100% turnover in three weeks. The stock is reportedly trading at 2/3x mNAV.
Critics, including Jim Chanos, have questioned MicroStrategy's valuation, noting that investors are paying a significant premium for exposure to Bitcoin through the company's shares. Chanos remarked, "You're paying about $220,000 for Bitcoin which trades at $110,000."
Separately, El Salvador continues to buy Bitcoin at all-time highs.
