The BTC buying frenzy at MicroStrategy faces headwinds from ongoing U.S. policy conversations that generate market instability.
Bitcoin consolidation near $104,000 has prompted Michael Saylor from MicroStrategy to indicate another potential Bitcoin purchase. On Jan. 27, via a scheduled social media posting, Saylor revealed MicroStrategy’s Bitcoin tracker for the 12th consecutive time, indicating a forthcoming acquisition by the business intelligence company.
MicroStrategy continues leading the Bitcoin market with its intense acquisition program, which now totals 461,000 BTC worth an estimated $48.4 billion based on SaylorTracker information. The latest BTC acquisition of 11,000 coins by the company during January 21 established an average purchase price of $101,191 per coin, resulting in over $19 billion unrealized gain. The recent Bitcoin acquisition by MicroStrategy placed the firm in front of the United States government when it comes to Bitcoin holdings.
Michael Saylor Reinforces Faith in Bitcoin Amid Turmoil
After slipping from its $108,786 peak on January 20, MicroStrategy shows no signs of slowing its Bitcoin acquisition plan. Market uncertainty increased after former US President Donald Trump made statements indicating potential additions of alternative digital assets to America’s strategic reserve.
On Jan. 23, President Trump created the President’s Working Group on Digital Asset Markets through an executive order with David Sacks, who supports crypto and artificial intelligence, at its head. The directive established guidelines for group members to establish a “national digital asset stockpile” while intentionally skipping Bitcoin details.
On March 25, the Bitcoin market experienced price swings, which sent values from their peak of $106,848 to their lowest point of $101,233. Crypto experts have shown conflicting responses to this presidential directive. Bitcoin supporters questioned whether the U.S. reserve might weaken Bitcoin dominance through its altcoin exploration.
In an X (formerly Twitter) post from Jan. 26, Max Keiser, who identifies as a Bitcoin maximalist, warned, “Trump has nothing to do with Bitcoin, yet his support for shitcoins threatens to ruin America.” According to Riot Platforms VP of Research Pierre Rochard, assertions state that Ripple has acted as a lobbyist for a multiasset reserve system that weakens Bitcoin’s core importance.
During a conversation about lobbying efforts, Ripple CEO Brad Garlinghouse made statements assuring Bitcoin would feature as part of any future digital asset reserve proposal.
The stubborn conflict about the asset composition of America’s prospective digital currency reserve stands as a barrier against optimistic expectations from Bitcoin traders. Several observers worry that moving away from a Bitcoin-only reserve toward one containing multiple altcoins would create deflationary issues.
During US policy development regarding cryptocurrencies, the crypto community watches on while MicroStrategy persists in buying Bitcoin acquisitions to exhibit its expectations for cryptocurrency long-term use. Bitcoin continues to command center stage as corporations and governments construct their digital asset strategy following Saylor’s recent statement about new Bitcoin acquisitions.
