Michael Saylor Signals MicroStrategy Will Buy More Bitcoin

Michael Saylor, co-founder of Strategy (formerly MicroStrategy), once again provided a mysterious hint suggesting that his company may soon add more Bitcoin to its massive holdings.

In a post on X on 22/06, Saylor shared a chart about Bitcoin's performance, accompanied by the statement, "Nothing can stop the Orange Coin."

Saylor Predicts Bitcoin Could Reach $21 Million in Two Decades

This social media post follows a familiar pattern of mysterious signals from Saylor just before his company files to purchase more Bitcoin with the U.S. Securities and Exchange Commission (SEC).

In recent weeks, Strategy's Bitcoin position has significantly increased after several strategic acquisitions.

This has led the company to hold approximately 592,100 BTC, valued at over $60 billion. Strategy's BTC reserves represent about 2.8% of the total Bitcoin supply, making it the largest asset-holding company in the world.

Meanwhile, Saylor's confidence in Bitcoin shows no signs of waning despite the company's massive holdings. The Bitcoin investor recently predicted that the top cryptocurrency could reach $21 million within the next 21 years.

"$21 million in 21 years," Saylor said on X.

Despite the optimistic tone, Saylor's approach has been criticized.

Famous investor Jim Chanos, known for negative predictions about companies like Enron, has publicly challenged Saylor's statements about the company's debt usage.

In an online video, Saylor defended his strategy by saying the company's debt is "convertible," "unsecured," and "non-recourse." The Bitcoin investor also suggested that the value of the top cryptocurrency could drop 90% without affecting the company's debt obligations.

However, Chanos strongly disagreed with this view, stating that Strategy would still be responsible if the debt is not converted to shares when due.

"Of course there is recourse to Strategy if the convertible debt is not converted to shares when due. How does he not know this?" the investor questioned.

His criticism implies that Saylor may be exaggerating the safety of the company's debt position.

Chanos's perspective is not surprising, as his company recently made an unusual move by betting against Strategy while maintaining a long-term position with Bitcoin.

This dual position emphasizes a growing perspective among some investors that while Bitcoin may grow strongly, Saylor's aggressive corporate strategy could carry potential risks.