U.Today – As 2025 begins, Michael Saylor, executive chairman and co-founder of MicroStrategy, revealed a key thing on his mind.
In the tweet, Saylor wrote, “Thinking.” This is not surprising given that Saylor is an ardent supporter of Bitcoin, and under his leadership MicroStrategy has become one of the major corporate owners of Bitcoin. The corporation has no intention of backing down, with plans to raise $2 billion in capital through public offerings of perpetual preferred stock in the first quarter of 2025.
According to a press release issued on January 3, MicroStrategy is looking to raise $2 billion through a perpetual preferred stock offering to buy more Bitcoin, expanding the company’s “21/21” plan.
The offering is separate from MicroStrategy’s current plan to raise $21 billion in equity and $21 billion in fixed-income instruments, which it has largely implemented in recent months to fund its excessive buying of Bitcoin through senior convertible bonds and debt.
As of December 30, MicroStrategy held 446,400 Bitcoins, valued at $43.9 billion. It bought 257,250 Bitcoins in 2024 alone — the company’s biggest Bitcoin buying year ever.
Saylor’s post also coincides with Bitcoin price consolidating around $98,000, predicting the next big move.
Bitcoin price action
Cryptocurrencies surged at the start of the year as market optimism returned. Bitcoin started to rise on December 31 from a low of $91,887 to a high of $98,969 on January 3, where it remained for several days.
At the time of writing, Bitcoin was trading at around $98,000, falling slightly to $97,960. Bitcoin is up 4% for the week.
Both moving averages have leveled off, and the relative strength index (RSI) is slightly above the midpoint, indicating possible consolidation in the short term. Bitcoin could fluctuate between $100,000 and $90,000 for a while.
If investors push the price above $100,000, Bitcoin is expected to retest its all-time high of $108,353. Alternatively, a break and close below $90,000 would pave the way for a decline to support at $85,000.
