MicroStrategy’s Saylor Invited to Bitcoin Arena as MSTR Seeks All-Time High

Michael Saylor, the CEO of MicroStrategy and a prominent advocate for Bitcoin, recently shared a new post emphasizing his strong support for the cryptocurrency. Known for his unique social media presence, Saylor has made it a habit to post about Bitcoin daily. His content varies from amusing to perplexing, but the underlying message remains consistent: he is bullish on Bitcoin.

In his latest endeavor, he utilized artificial intelligence to envision himself in a gladiatorial arena clad in armor featuring the Bitcoin logo. He captioned the image with “Step into the Arena,” which can be interpreted as an invitation for the public to embrace Bitcoin in the battle against inflation and for financial independence.

This comes at a time when MicroStrategy’s stock is soaring towards a new all-time high. Currently trading at $194.63 per share, MicroStrategy has broken free from a multi-month consolidation that began in March. Since the start of October, the stock has increased by 13.91%.

The immediate resistance for MicroStrategy appears to be the $200 mark, which it reached over six months ago. If this level is surpassed, the next target will be the previous all-time high of $333, achieved nearly 24 years ago in March 2020.

MicroStrategy’s success is straightforward, attributed to their substantial holdings of 252,220 Bitcoin, which are safely stored in the company’s reserves. With an average purchase price of around $39,300, they have realized a profit of approximately 59.7%, totaling around $5.93 billion.