F&G: 78
Price: $96 – 101k (or) £75 – 79k
Hashrate: 765 EH/s
Nodes: 20,428
MSTR Price: $365 – $399

MicroStrategy now owns 2% of the total Bitcoin supply – a staggering 423,650 bitcoin. This puts their total value at around $40 billion with a cost basis of around $25 billion. Since the start of the year the company has been smashing the buy button constantly. This makes sense. The ETF approval was in January this year and it was a green light for institutional investors that Bitcoin had the green light by regulators.

It’s also worth noting that MicroStrategy could be added to the Nasdaq this Friday. This might explain the price of the stock. Quite simply:

Money that has poured into MSTR stock has been used by the company to purchase as much Bitcoin as the company could muster. Today likely signals the last purchase by MSTR for at least 5 days as the rules state that a company cannot use an at-the-market (ATM) offering in the 5 days leading up to their inclusion in a major index like the Nasdaq-100. This is because of regulations designed to prevent market manipulation and ensure fairness for investors.

This means that the stock of MSTR is likely to track sideways or may even dip a little in the run up to Friday when the announcement is going to be made. If MSTR makes it to the Nasdaq, which has been there aim, then the stock price could surge.

It is quite an achievement what Michael Saylor at the helm of MSTR has been able to pull off. Many have called it the infinite money glitch. But MSTR has accumulated 2% of the total bitcoin supply and is the largest holder of bitcoin second only to Satoshi himself who owns approximately 1 million bitcoin. Blackrock’s ETF fund IBIT holds around 500,000 but this does not belong to Blackrock. It belongs to its customers, whereas MSTR holds the 420,000 coins for the company and its shareholders benefit from the exposure and price appreciation.

On top of this, Amazon and Microsoft are now entering the fray. Shareholders at Amazon have reportedly put it to the board to consider adding bitcoin to the balance sheet. Over in Canada, companies left, right and centre are also reportedly stacking sats. Riot, a bitcoin mining company, has even raised funds to purchase bitcoin. So too has Marathon Digital. Everyone is taking a leaf out of Saylor’s playbook and adding Bitcoin to their reserve treasury – even the US and other nation states are doing the same.

This is important. Not only is it extreme levels of adoption, but it has the ability to change the game entirely. Previously, Bitcoin has followed a 4 year cycle. This 4 year cycle, for those that understand it, has allowed people to sell at the top of the bullrun and then dollar cost average all the way down and back up again and has allowed for extreme profit taking.

But this time round, it might be a mistake to assume that this historical cycle will repeat.

Enter the super cycle.

The super cycle is the ‘suddenly’ moment of bitcoin. It is a cycle that never ends – the price only goes upwards. From 100k to a million and beyond, the super cycle is the point of no return. It is the event horizon of adoption. Because when dollars and stirling aren’t good enough, where do you go and what do you use?

Some might say Bitcoin.

But whether we are about to enter the super cycle remains to be seen. Nothing is certain. But what is evidently clear is that the game theory around bitcoin is seriously ramping up. Nation states, companies, sovereign wealth funds, pension funds – they are all starting to take bitcoin extremely seriously. And in competition, you cannot afford to lose the advantage. This forces them to hold it regardless of whether they want to or not.

And that could be the spark that sets it all off.