Well-known venture capitalist Vance Spencer said that MicroStrategy may abandon Bitcoin purchases as early as January 2025. In his opinion, such an event may disappoint most of the company's investors who support the strategy of buying the first cryptocurrency.
The expert noted that MicroStrategy's so-called blackout period could extend throughout January, so Saylor will not be able to issue new convertible debt obligations for purchase.
According to him, Michael Saylor will be buying bitcoins until the end of this year and then switch to altcoins.
As a reminder, public companies often impose what is known as a “blackout period.” During this period, certain actions involving securities are restricted. Blackout periods often last from two weeks to a month and typically end a couple of days after the quarterly results are announced.
Some experts believe the blackout period may be related to insider trading rules. The U.S. Securities and Exchange Commission does not prohibit insiders from trading after the end of a financial quarter.
However, many firms still impose blackout periods to avoid the appearance of wrongdoing. So MicroStrategy could surprise some market participants by stopping buying bitcoin early next year.
