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Fred Krueger, known for his Bitcoin buying and analysis, said that MicroStrategy could be on the verge of a huge Bitcoin buying operation. If these purchases are made, the price could increase by about $17,000, said the analyst who wrote his comments on X.
“They Can Buy 120,000 New Bitcoins”
Claiming that MicroStrategy was behind $2 billion of the $3 billion in USDT generated by Tether last night, Kruger wrote that the company is preparing to make a purchase that could reach $12 billion in total:
“In Syria, Tether estimates $2 billion worth of USDT. Most likely a micro-strategy behind this. The company buys Bitcoin with USDT from exchanges including Binance. When new USDTs were minted, the price was 97,300 And then increased to 98,300 because the microstrategy bots started working.
$2 billion is just the beginning. MicroStrategy completed the sale of $3 billion in convertible bonds last week. They likely sold shares at market prices of between $2 and $9 billion. In other words, there could be a $12 billion purchase.
This major purchase can be expected before Wednesday. And it will probably be Monday. 8k filings are also made to the SEC. So MicroStrategy can buy 120 thousand new bitcoins. Thus the company’s total net asset value per share decreases from 3.3 to 2.6. “If the share price is above $500, the company may enter the QQQ index on Friday.”
There may be an increase of around 17 thousand dollars
Kroger said these potential purchases are huge moves and could seriously boost Bitcoin’s price:
“If this is true, that is, if the purchase is made, it will be a big step. So far, Bitcoin ETFs have bought $31 billion. This purchase alone is equivalent to 1/3 of that amount. Those $31 billion of purchases $46,000 to $99,000. This new purchase could increase Bitcoin’s market value by $17,000 The dollar sales wall should also be cut.”
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