Michael Saylor, co-founder of MicroStrategy, has raised speculation about another Bitcoin purchase by posting the company’s Bitcoin tracker for the 12th consecutive week. The possible acquisition is scheduled to take place on January 27.
MicroStrategy’s most recent buy was on January 21, when it added 11,000 BTC for an average price of $101,191 per coin. The business now has an astonishing 461,000 BTC, worth around $48.4 billion, exceeding the US government’s Bitcoin reserves.
Despite the recent decline from Bitcoin’s all-time high of $108,786 on January 20, MicroStrategy remains committed to its accumulation plan. The price drop came after former President Donald Trump announced a potential adjustment in US digital asset legislation.
Digital asset stockpile sparks debate
On January 23, President Trump issued an executive order establishing the President’s Working Group on Digital Asset Markets, which is chaired by crypto and AI supporter David Sacks. President Trump entrusts the group with investigating the establishment of a national digital asset stockpile. However, the order specifically excluded Bitcoin from its reach.
The announcement elicited varied comments from the cryptocurrency world. While others regarded it as a positive step for digital assets, Bitcoin supporters opposed the potential inclusion of altcoins in the planned reserve.
Max Keiser, a prominent Bitcoin enthusiast, accused Trump of jeopardizing America’s financial security by promoting non-Bitcoin digital assets. Similarly, Pierre Rochard, VP of research at Riot Platforms, stated that Ripple’s lobbying activities aim to construct a reserve comprised of numerous cryptocurrencies, which he feels weakens Bitcoin’s dominance.
Ripple CEO Brad Garlinghouse later acknowledged the lobbying attempts but underlined that Bitcoin would remain part of any digital asset reserve.
Bitcoin Price Movements and Market Sentiment
Bitcoin’s recent price changes indicate market uncertainty. Following the executive order, the price decreased to $101,233 from its all-time high. While short-term volatility persists, Bitcoin supporters remain confident about its long-term potential.
As MicroStrategy announces another acquisition, attention turns to how these developments may affect Bitcoin’s price and importance in global financial institutions.
