MicroStrategy’s Executive Chairman Michael Saylor has stirred the crypto community with his latest post on X, If you are not buying bitcoin at the top, you are leaving money on the table.
The statement comes after MicroStrategy acquired another 5,262 BTC for about $561 million, growing its Bitcoin pile for a seventh consecutive week. Based on current market prices, the latest acquisition grows the value of MicroStrategy’s holdings to $42.2 billion, with the average acquisition cost now standing at $62,257 per Bitcoin.
If you are not buying bitcoin at the top, you are leaving money on the table.
— Michael Saylor⚡️ (@saylor) December 23, 2024
The acquisition coincides with MicroStrategy’s debut as a member of the Nasdaq 100 equity index, with its share price remaining relatively stable in pre-market trading at over $364.2.
Michael Saylor Advice as Bitcoin Drops!
At the time of writing, BTC is trading at around $93,882 after dropping significantly last week, a downturn triggered by Federal Reserve chairman Jerome Powell’s remark on interest rate cuts.
As the Christmas bell rings, the crypto market witnessed intense price swings, a stark contrast to the optimism that defined early December. A 12% decline has quickly dampened sentiment, though it pales in comparison to the 50% crashes of the 2019 bear market. Still, the sight of Bitcoin surpassing $100,000 only to see a week of steady declines remains disheartening.
The downturn, however, is not entirely unexpected. Two major factors have influenced the crypto landscape this year: macroeconomic and political uncertainty, as well as capital flows.
Optimism over potential rate cuts had driven Bitcoin’s ascent, bolstered by Donald Trump’s election victory. Yet, the Federal Reserve’s recent indication of slowing rate cuts in 2025-2026 has triggered a widespread market correction.
