Outspoken MicroStrategy CEO Michael Saylor has yet again made a splash on social media with a bold post to his Twitter account. Saylor’s messaging has largely gone by the wayside until this week when he took it to a higher level, projecting himself as a gladiator in a suit of armor encrusted with the Bitcoin logo.
The caption to the post, ‘Step into the Arena,’ has been taken up by many as a rallying cry for Bitcoin use in the midst of financial uncertainty. Saylor’s idea of artificial intelligence in the post, standing ready for battle, is another testament to his faith in Bitcoin.
Bitcoin Holdings Catalyst
His social media strategy, often unconventional and provocative, has frequently left audiences entertained or perplexed, but his message remains clear: bullish on Bitcoin.
This post comes at a good time considering MicroStrategy (MSTR) has been on fire on the stock market. MSTR, trading at $194.63 a share, has shot up 13.91% since October 1 when it broke out of a multi month consolidation period. The stock is now looking at that important $200 resistance level not seen in over six months.
In the event MSTR breaks through this ceiling, analysts say the next target could be $333, which hasn’t been seen since March 2020, over 23 years ago. MicroStrategy’s extremely large holdings of BTC 252,220 BTC as of today has been a huge catalyst for this upward trajectory.
Having acquired reserves for an average price of $39,300, the company has enjoyed a 59.7 per cent profit when its reserves are sold, equating to an eye-watering $5.93 billion in gains.
Saylor, who has been Bitcoin’s biggest promoter is driving interest from investors all around the globe in both his company’s stock and the cryptocurrency itself. Whether MicroStrategy will breach its all-time highs remains to be seen, but Saylor’s message is clear: He’s in the Bitcoin arena and ready to fight.
