$BTC
Michael Saylor may buy Bitcoin again. Here’s why the market is watching.
Michael Saylor, the chairman of MicroStrategy, posted a cryptic message on X: "Orange is my favorite color." Although this phrase is simple, it has been widely interpreted by the cryptocurrency community as a signal of a potential upcoming Bitcoin purchase. This is not the first time Saylor has dropped subtle hints before a major acquisition.
Saylor is one of the most prominent institutional optimists about Bitcoin. MicroStrategy currently holds nearly 190,000 Bitcoins - and every time the company makes a new purchase, it reinforces Bitcoin's position as a long-term treasury asset. With Bitcoin trading just above $70,000, Saylor's tweet could precede another headline-making move.
The price of Bitcoin briefly jumped to $70,420 after the tweet. Social sentiment on X platforms and cryptocurrency forums surged, with the hashtag #Saylor topping the trending list and memes spreading across spreadsheets. Traders are now monitoring Micro_Strat_egy wallets and corporate deposits for the next big move.
If Micro_Strat_egy confirms a new Bitcoin purchase, it could serve as a bullish catalyst in institutional circles. Saylor's speculative approach remains in play, and the market is listening.