Michael Saylor is the boss of a company called MicroStrategy. His company owns a massive amount of Bitcoin—more than almost any other company in the world.
Recently, he posted a picture of a chart on social media showing all the times his company bought Bitcoin in the past. Each buy is marked as a dot on the chart. He wrote: "A good time to add more dots."
In simple terms, he is hinting that his company is planning to buy even more Bitcoin very soon.People are watching him closely because his company is facing some pressure and criticism for two main reasons:
They are losing money on paper: MicroStrategy bought most of its Bitcoin at a high price (an average of about $75,700 per coin). Right now, the price of Bitcoin has dropped to around $61,000. This means his company has a temporary "paper loss" of over $11 billion.
He broke his "Never Sell" rule: Saylor always told the world that his company would never sell its Bitcoin. However, last week, MicroStrategy sold a very small amount of Bitcoin (32 coins) to get quick cash to pay some investors. Even though it was a tiny amount, it shocked people who believed he would never sell.