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Michael Saylor Breaks the Silence and Shares an Attractive Bitcoin Chart
MicroStrategy co-founder Michael Saylor posted a Bitcoin chart that is usually posted by the CTO on Sunday, hinting at another Bitcoin purchase the next day, after a week-long pause in buying. "Remove the green lines. Let the green dots exist forever," the CTO wrote to his 4.1 million followers on X. According to SaylorTracker, Strategy currently holds 471,107 BTC, worth about $45.3 billion, following its most recent purchase of 10,107 BTC on January 27th. The company continues to focus on buying BTC for its corporate treasury strategy amidst recent rebranding and sideways stock prices.
MicroStrategy renamed to "Strategy" MicroStrategy changed its name to "Strategy" on February 5 and adopted the Bitcoin logo along with a Bitcoin-themed marketing program to better reflect the company's identity and core operations. MicroStrategy's CEO, Phong Le, made this statement along with a rebranding announcement: "Strategy is the innovation in the two most transformative technologies of the 21st century - Bitcoin and Artificial Intelligence. Our new name is strong and simple, conveying the global and universal appeal of our company."
The company also conducted an income reporting call on the same day as the rebranding announcement to discuss the Q4 2024 financial results. According to the income call, Strategy's revenue report from the software business segment is $120.7 million, down 3% from the same period last year, and a loss of $640 million in the quarter.
Despite this, the company continues to accumulate BTC strongly, with the fourth quarter of 2024 being the company's largest addition of Bitcoin in terms of the quantity of coins purchased. In the fourth quarter of 2024 alone, Strategy has bought over 195,000 BTC and outlined some motivations to drive the price of BTC up in 2025. These catalysts include the potential framework for digital assets in the United States, political support for Bitcoin, improvements to existing BTC exchange-traded funds (ETFs) and increasing adoption by institutions.
The company's stock is currently trading at around $327 per share, down nearly 40% from an all-time high of around $543 per share recorded in November 2024. This strategy has been trading within the range since the all-time high but still above the 200-day exponential moving average (EMA), which is a significant and dynamic support level for any asset traded in the market.