Michael Saylor, Chairman of the Board of Strategy (formerly MicroStrategy), suggested that the company may be preparing for another large-scale Bitcoin purchase.
His hint came at a time when Bitcoin broke through $100,000 for the first time in months, gaining new upward momentum.
Strategy Increases Bitcoin Bet
On May 11th, Saylor posted a screenshot of the company's Bitcoin portfolio tracker on the X social media platform with the phrase "connect the dots".
Although brief, this post follows Saylor's familiar pattern of using encrypted messages before an official announcement. These messages typically indicate that the company is preparing to add more BTC to its assets.
According to the Saylor Tracker platform, Strategy currently holds 555,450 BTC, which is valued at over $58 billion. This makes the company the largest corporate Bitcoin holder in the world.
Meanwhile, Strategy's bold Bitcoin approach has influenced several other companies.
For example, Japan's Metaplanet currently holds over 5,000 BTC and is being compared to MicroStrategy in Asia. The company recently launched a US-based unit to expand its Bitcoin strategy beyond regional boundaries.
At the same time, competition is intensifying in the US corporate Bitcoin market. Major banking giant Cantor Fitzgerald has started a $3 billion joint initiative with stablecoin issuer Tether to establish a dedicated Bitcoin financial company.
Elsewhere, Vivek Ramaswamy's Strive merged with Ashet to create another competitor.
Bitcoin Breaks Through $104,000... Market Optimism
The implied purchase by Strategy came alongside a 10% rise in Bitcoin over the past week, breaking $100,000 for the first time since February.
At the time of reporting, BTC was trading at around $104,621, which is 4% lower than the all-time high of $109,021 in January.
Market analysts from the cryptocurrency online data platform Sentiment pointed out that the current market sentiment is very bullish, which could lead to a short-term correction. They say that high retail investor interest and media attention often coincide with market peaks.
"Bitcoin has broken through the important 100K psychological resistance for the first time since February 3rd. The current sentiment is very bullish, which could be a double-edged sword for future price movements." – Sentiment cryptocurrency online data platform.
Nevertheless, Saylor remains confident about the long-term value of this asset. According to him, without recent selling pressure, Bitcoin would already be trading at $150,000, a result of short-term holders realizing profits.
He expects long-term investors to continue driving the upward trend in the coming weeks.
