Michael Saylor Makes ‘Bitcoin Burger’ Statement as BTC Surges Over $63,000

Bitcoin, the largest cryptocurrency by market capitalization, has continued its upward trajectory since the beginning of the week, surpassing the $63,000 threshold. During Thursday’s session, Bitcoin peaked at $63,526, marking its third consecutive day of gains since September.

Michael Saylor, the chairman and cofounder of MicroStrategy, reacted to this bullish trend with a light-hearted yet impactful tweet: “Have a Bitcoin Burger.” This playful message emphasizes Saylor’s steadfast support for Bitcoin. Under his leadership, MicroStrategy has emerged as one of the largest institutional holders of Bitcoin, boasting over 244,800 BTC in its reserves.

Recently, MicroStrategy announced the pricing of its Convertible Senior Notes Offering. On September 16, 2024, the company issued a redemption notice for its Senior Secured Notes, set to be redeemed on September 26, 2024.

MicroStrategy anticipates net proceeds from this sale to be approximately $864.1 million. According to a press release, the company plans to use the net proceeds to redeem the entirety of its $500 million 6.125% Senior Secured Notes due in 2028, with any extra funds earmarked for acquiring additional Bitcoin and other corporate purposes.

### Bitcoin Tops $63,000

In a significant move, the Federal Reserve recently cut borrowing costs by 50 basis points, marking its first reduction in over four years. This decision propelled Bitcoin to a three-week high, reaching $63,526 in today’s trading session.

As of now, Bitcoin has increased by 5.37% over the past 24 hours, trading at $63,198, and has seen a week-on-week rise of 9.37%. The optimism surrounding the Federal Reserve’s ability to achieve a soft landing has fueled a rally in riskier market sectors, contributing to record highs in stock prices.

With Bitcoin now exceeding the $63,000 mark, attention turns to how well it can maintain this bullish momentum and whether it can challenge its all-time highs of nearly $74,000, which were reached in mid-March.