MicroStrategy Makes Another Big Move with Bitcoin

The cryptocurrency market had a rough start to the week, losing 2.8% of its value on Monday. That’s a US$103 billion hit, bringing the total market valuation down to US$3.46 trillion. But while prices wobbled, MicroStrategy wasn’t holding back.

Saylor’s Bet Gets Bigger

Michael Saylor, CEO of MicroStrategy, announced yet another Bitcoin purchase. This time, 21,550 BTC at a total cost of US$2.1 billion. That’s US$98,783 per coin. The move adds weight to Saylor’s ongoing strategy of doubling down on Bitcoin, even as its price dipped below US$97,000.

Volatility Hits Traders Hard

Monday was chaotic for the derivatives market. Almost 204,000 traders saw their positions liquidated, with bulls taking the brunt—82% of the US$504 million wiped out came from long positions. Price swings like these aren’t for the faint-hearted.

The Bigger Picture: Bitcoin and the Headlines

Bitcoin dropped as low as US$94,000, down 7% from last week’s record US$104,100. Why the selloff? Investors are jittery. Political tension is everywhere—Syria, France, South Korea—and the U.S. Consumer Price Index (CPI) report is just around the corner. No one wants to get caught on the wrong side of the news cycle.

Eyes on Inflation Numbers

The November CPI data lands Wednesday. Early chatter suggests inflation might be cooling, which could nudge the Federal Reserve toward a smaller rate cut at their December 18 meeting. Markets don’t like surprises, so all eyes are on this report.

Bitcoin Out, Gold In?

While Bitcoin stumbled, Gold rose. Prices climbed 1.8% in just four days—US$2,631 to US$2,660. This kind of shift usually signals one thing: investors playing it safe. When Gold climbs and Bitcoin slips, it’s often a sign that people are hedging their bets, steering clear of risky assets.

As markets wrestle with uncertainty, the tug-of-war between risk and safety is playing out in real time. For now, Bitcoin’s volatility hasn’t shaken MicroStrategy’s resolve.