MicroStrategy, the enterprise software company turned Bitcoin-focused investment firm, has continued its aggressive Bitcoin acquisition strategy, adding 2,138 BTC to its holdings over the past week. Executive Chairman Michael Saylor disclosed the purchase in a Dec. 29 post on X, formerly Twitter, with accompanying securities disclosure filings confirming a $209 million investment.
This latest purchase brings the firm’s total Bitcoin holdings to 446,400 BTC, acquired at an average price of $62,428/Bitcoin. The company’s total investment in Bitcoin has surpassed $27.9 billion since its acquisition campaign began in 2020; one of the most significant global institutional holders of the largest cryptocurrency in the world.
MicroStrategy has acquired 2,138 BTC for ~$209 million at ~$97,837 per bitcoin and has achieved BTC Yield of 47.8% QTD and 74.1% YTD. As of 12/29/2024, we hodl 446,400 $BTC acquired for ~$27.9 billion at ~$62,428 per bitcoin. $MSTR https://t.co/58aXM7g6u2
— Michael Saylor⚡️ (@saylor) December 30, 2024
MicroStrategy Extends Bitcoin Buying Streak For Eighth Week
MicroStrategy’s new purchase marks the eighth week that the company bought Bitcoin, indicating its unwavering confidence in the asset. The buying spree is funded through an at-the-market capital-raising program that lets the firm issue shares or securities to raise money. It said it had $6.88 billion remaining under the program, which might mean more weekly Bitcoin purchases.
With an active ATM program, MicroStrategy has also been able to augment its stockpile of Bitcoin recently while remaining strong in both traditional and crypto digital markets.
This strategic change has set a new course that significantly changed MicroStrategy’s market position. The company, previously software-focused, is now one of the central stocks for getting exposure to Bitcoin, propelling it into the Nasdaq 100 index with a 0.38% weighting.
MSTR shares surged as high as $473.83 on Nov. 21, tracking the optimism seen during Bitcoin’s recent price run-up. By the end of December, MSTR shares had retreated and changed hands at a 40% discount to their November peak. Bitcoin itself retreated from $108,135 on Dec. 17 to roughly $92,900 at the time of writing, down 13.9%.
Despite the drawdown, MicroStrategy has emerged as the best performer of 2024, surging by 402% against Bitcoin’s gain of 119% in the period.
It is ironic that by pivoting MicroStrategy to become a Bitcoin-focused company, Michael Saylor actually turned the firm’s fortunes around. A strategy initially looked upon skeptically paid off when this firm became a de facto proxy in traditional markets for those betting on Bitcoin.
As digital assets became more appealing to institutional investors, the adoption of Bitcoin improved. With its constant purchases, MicroStrategy wasn’t sending a different message. It was long- and it still is. The remaining $6.88 billion in ATM capital will be tacked onto the large war chest to keep buying even after the market conditions change.
Although recent market corrections have brought some volatility, Saylor and MicroStrategy do not seem deterred by it all and continue reinforcing Bitcoin’s use as a primary corporate strategy. In 2025, eyes will be on whether MicroStrategy will keep up its unrelenting buying spree of Bitcoin and whether this daring bet will finally pay off long-term.
