- MicroStrategy chair Michael Saylor remains committed to his Bitcoin vision.
- Rumble hints at exploring opportunities in Bitcoin.
- MicroStrategy is still on a BTC acquisition streak.
MicroStrategy chair Michael Saylor has long been a vocal advocate of Bitcoin, openly lauding the assetโs potential and affirming his commitment to its acquisition. Although his embrace began only a few years ago, it has only strengthened over time, seeing Saylor establish a reputation as one of BTC’s biggest supporters.
Continuing the gospel, Saylor is on a mission to rally more big names to join the Bitcoin bandwagon.
MicroStrategy Targets Rumble and Microsoft
Michael Saylor has expressed his willingness to share his Bitcoin expertise with two major institutions, Microsoft and Rumble.
Sponsored
Responding to a Tuesday question by Rumble CEO Chris Pavlovski on whether or not to invest in BTC, Saylor gave an enthusiastic nod of approval. The MicroStrategy chief went a step further, adding that he is willing to share some of his knowledge with Pavlovski, to which the latter quickly agreed.
The comments came after Saylor revealed his intentions to pitch a BTC buying strategy to the Microsoft board. Earlier in October, Microsoft asked its board of directors to vote on including Bitcoin in its investment strategy. Instead of his initial proposal to hold a private meeting with CEO Satya Nadella, which was declined, the MicroStrategy chair said he agreed to deliver a brief presentation directly to the board.
โI agreed to provide a three-minute presentation โ thatโs all youโre allowed โ and Iโm going to present it to the board of directors,โ he stated.
Saylorโs evangelism comes as Bitcoin solidifies its potential and market dominance, prompting his firm to scoop up more of the asset.
MicroStrategy Gobbles Up BTC in Billions
As Bitcoin continues its rally, Microstrategy is not slowing its purchases. Already sitting on a big stash, the firmโs latest buy was an additional 51,780 BTC between November 11 and 17, worth around $4.6 billion.
The acquisition brings MicroStrategyโs total treasury to 331,200 BTC, purchased for $16.5 billion at an average price of $49,874 per Bitcoin. With the current market surge, the stash is now worth nearly $120 billion, marking a major return on its investment.
To strengthen its vision, the company recently unveiled a โ21/21 Planโ to acquire another $42 billion in BTC over the next three years. The plan involves raising $21 billion through share sales at market value and another $21 billion via convertible debt, allowing investors to convert their holdings into company shares later.
MicroStrategy now holds the position of the largest corporate Bitcoin holder.
On the Flipside
- Michael Saylor recently revealed plans to throw a โBitcoin at $100,000โ party.
- Rumbleโs stock rose 9% following the CEOโs Bitcoin post.
- At press time, BTC is trading a little over $94,000.
Why This Matters
While some traditional institutions have been cautious about engaging with Bitcoin, the assetโs undeniable momentum over recent years has solidified its status as a force to be reckoned with. MicroStrategyโs Michael Saylorโs bold advocacy could boost morale for firms like Microsoft and Rumble as they consider entering the space.
Read about Andrew Tateโs intention to follow in MicroStrategyโs footsteps in this article:
MicroStrategy’s Latest Bitcoin Buy Triggers Andrew Tate FOMOย
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