Michael Saylor Responds with “Running Bitcoin” Post as BTC Nears $60,000

Michael Saylor, the founder and executive chairman of MicroStrategy, recently shared a message with the global cryptocurrency community on the X social media platform. This comes as Bitcoin, the leading digital currency, shows signs of recovery, climbing back to the $60,000 mark. Hours before his announcement, MicroStrategy made another significant Bitcoin acquisition.

In his post, Saylor expressed the message “Running Bitcoin,” accompanied by an image of himself depicted as a football player in an orange uniform—a nod to Bitcoin’s color. The number on his jersey, 21, symbolizes the maximum supply of 21 million Bitcoins that was established by Satoshi Nakamoto.

Bitcoin has seen approximately a 2.76% increase recently, approaching the $60,000 price point again. Just the day before, Bitcoin experienced a notable drop of 4.55%, falling from $60,358 to around $57,600. Earlier in the year, Bitcoin reached an all-time high of $73,750 on March 14, but it is currently trading about 19.55% below that peak. This marked a unique moment in Bitcoin’s history, as it achieved a record price before an expected halving event instead of after.

Notably, Saylor’s company recently announced the acquisition of an additional 18,000 Bitcoins, amounting to approximately $1.1 billion. Following this purchase, MicroStrategy now holds a total of 244,800 Bitcoins, valued at roughly $14.68 billion, representing about 1.17% of the total Bitcoin supply. This positions the company as a significant holder of Bitcoin, surpassing many of the spot Bitcoin exchange-traded funds that were launched earlier this year.

MicroStrategy also plans to issue more debt, specifically convertible senior notes, to raise an additional $700 million to further invest in Bitcoin. These notes can be converted into MicroStrategy shares over time, allowing investors to earn interest. Essentially, MicroStrategy has begun operating like a spot Bitcoin ETF prior to the launch of actual funds of this type in the market.