PakGazette – As we head into 2025, Michael Saylor, CEO and co-founder of MicroStrategy, has revealed the key things he’s thinking about.
In a tweet, Saylor wrote: “Thinking.” This is not surprising given that Saylor is an ardent supporter of Bitcoin and, under his leadership, MicroStrategy has become one of the largest corporate holders of Bitcoin. The corporation has no intention of backing down, with plans to raise $2 billion in capital through public offerings of perpetual preferred stock in the first quarter of 2025.
According to a press release issued on January 3, MicroStrategy wants to raise $2 billion through a perpetual preferred stock offering to purchase more Bitcoin, expanding the company’s “21/21” plan.
The offering is separate from MicroStrategy’s current plan to raise $21 billion in equity and $21 billion in fixed income instruments, which it has implemented primarily in recent months to fund its Bitcoin buying frenzy through convertible senior notes. and debt.
As of December 30, MicroStrategy owned 446,400 Bitcoin, valued at $43.9 billion. It purchased 257,250 Bitcoin in 2024 alone, the company’s biggest year of Bitcoin purchases yet.
Saylor’s post also coincides with Bitcoin price consolidating around $98,000, anticipating the next big move.
Bitcoin price action
Cryptocurrencies soared at the beginning of the year as market optimism returned. Bitcoin began to rise on December 31 from a low of $91,887 to a high of $98,969 on January 3, where it remained for a few days.
At the time of writing, Bitcoin was trading at around $98,000, down slightly from $97,960. Bitcoin is up 4% weekly.
Both moving averages have stabilized and the Relative Strength Index (RSI) is just above the halfway point, pointing to possible consolidation in the near term. Bitcoin could fluctuate between $100,000 and $90,000 for some time.
If investors push the price beyond $100,000, Bitcoin is expected to retest its all-time high of $108,353. Alternatively, a break and close below $90,000 would pave the way for a drop to the $85,000 support.
