‘Stay humble’ – Saylor’s latest post sparks ‘Bitcoin to $200K’ talks
Key Takeaways
Since April, Technique co-founder Saylor has posted brief, bullish posts on X, adopted by strategic purchases of Bitcoin the following day. This time might a repeat of the identical sample.
Technique (previously MicroStrategy) co-founder Michael Saylor hinted at one other Bitcoin [BTC] buy on Sunday, the twentieth of July. In a submit on X, he merely mentioned,
“Keep Humble. Stack Sats.”
Connected was a Saylor tracker chart that confirmed the corporate held 601,550 BTC, value $71.01 billion on the time of writing.
For the uninitiated, Saylor has a behavior of posting this chart on Sundays, and it’s typically adopted by an announcement of a Bitcoin acquisition by Technique on Mondays.
The final buy was made on the 14th of Julym the place the corporate purchased 4,225 BTC for $472.5 billion.
Spot ETF flows additionally mirrored robust demand for Bitcoin. Aside from the first of July, each buying and selling day has seen positive inflows for the Bitcoin spot ETFs. This underlined the robust investor demand.
Publicly listed corporations continued so as to add BTC to their holdings. Knowledge from Bitcoin Treasuries confirmed that 860,766 BTC was held by public corporations. The overwhelming majority of them had been from america.
Saylor to “high blast” Bitcoin to $200k?
Lots of the social media reactions mirrored bullish enthusiasm. The general public anticipated a $200k goal for Bitcoin this cycle. One Twitter denizen posted,
“That is the way you REALLY lock in.”
Led by Technique, Bitcoin treasury corporations have been one of many key drivers of BTC demand in the course of the present run. The conviction of Saylor is famous, as Technique continued to purchase BTC by the bear market.
Nonetheless, the rising NAV premium throughout a bull run permits Saylor to subject new fairness or convertible notes. They will elevate extra capital to purchase much more BTC, and this optimistic suggestions loop is what Saylor has known as “producing Bitcoin yield.”
Over the previous month, the company’s stock has rallied 14.68%, from $369.03 to $423.22. Its market capitalization stood at $118.9 billion.
