MicroStrategy Hints at First Bitcoin Purchase Above $100K as BTC Hits New Highs

Michael Saylor, executive chairman of MicroStrategy, hinted at a potential Bitcoin (BTC) purchase by the company at an average price exceeding $100,000. 

In a post shared on X, Saylor referred followers to “SaylorTracker.com,” a platform that monitors the company’s Bitcoin acquisitions, suggesting it might be missing a recent purchase.

Is https://t.co/Bx3917zMqi missing a green dot? pic.twitter.com/B3Zzd6M1uV

— Michael Saylor⚡️ (@saylor) December 15, 2024

MicroStrategy has continued to strengthen its position as one of the largest corporate holders of Bitcoin, amassing 423,650 BTC as of December 15, 2024, with a portfolio value exceeding $43.6 billion. This latest acquisition, if confirmed, would mark a milestone for the firm, indicating its first Bitcoin purchase above the $100,000 price level.

Bitcoin Purchases Exceed $100,000 Per Coin

According to data from SaylorTracker, MicroStrategy has confirmed several large Bitcoin acquisitions over the past month, with average purchase prices nearing six figures. On three separate occasions between November 25 and December 9, the firm acquired Bitcoin at average prices of $97,862, $95,976, and $98,783. 

These purchases occurred on consecutive Mondays, reflecting a strategic approach to accumulating Bitcoin at high price levels.

SaylorTracker indicates that MicroStrategy’s most recent purchase, if completed over the weekend as suggested, would have been executed at a price exceeding $100,000 per coin. 

While MicroStrategy has not yet issued an official announcement confirming the transaction, Saylor’s comments have sparked speculation about the company nearing a $50 billion Bitcoin portfolio.

Bitcoin Reaches New Highs as Market Momentum Builds

Bitcoin surged to $104,958 as of press time, following a 6.05% increase over the past week. The cryptocurrency reached a new all-time high of $106,352, driven by increased trading volume and heightened investor interest.

Despite the recent price rally, technical indicators suggest mixed momentum in the market. Bitcoin’s Relative Strength Index (RSI) currently reads 68, approaching overbought levels but remaining below the critical threshold of 70. 

Meanwhile, the Moving Average Convergence Divergence (MACD) indicator shows negative momentum, though analysts predict a potential reversal if the MACD line crosses above the signal line.

Source: TradingView

Market analysts have identified key levels for Bitcoin’s price movement. The 78.6% Fibonacci retracement level at $98,128 could act as a strong support during a pullback, while a break above the current all-time high could propel Bitcoin into price discovery mode, with targets as high as $131,252 based on Fibonacci projections.

Analysts Predict $120,000 Target for Bitcoin

Market sentiment surrounding Bitcoin remains bullish as traders eye the next psychological target of $120,000. 

Peter Brandt noted that Bitcoin’s recent performance positions it well for continued upward movement, particularly as it gains market share against traditional assets like gold.

Source: X

From a technical perspective, Bitcoin recently broke out of an ascending triangle pattern on the daily chart, signaling bullish momentum. However, analysts caution that a retest of the breakout level could bring Bitcoin prices briefly below $100,000 before resuming its upward trajectory.

As Bitcoin consolidates above the $100,000 milestone, MicroStrategy’s sustained investment strategy reflects growing institutional confidence in the cryptocurrency as a long-term asset.

FAQs

Did MicroStrategy purchase Bitcoin at over $100,000 per coin?

Michael Saylor hinted at a potential Bitcoin purchase above $100,000, but the company has not yet confirmed it officially.

How much Bitcoin does MicroStrategy currently hold?

MicroStrategy holds 423,650 BTC as of December 15, 2024, valued at over $43.6 billion.

What is Bitcoin’s current price and next target?

Bitcoin recently hit an all-time high of $106,352. Analysts predict it could reach $120,000 in the near term.