MicroStrategy Continues Aggressive Bitcoin Accumulation with 5,262 BTC Purchase
Corporate Bitcoin investor MicroStrategy has remained steadfast in its commitment to accumulating Bitcoin, with its latest purchase underscoring the company’s aggressive strategy despite peak prices.
Between December 16 and December 22, MicroStrategy acquired 5,262 BTC for approximately $561 million, the company officially announced on December 23. This acquisition was made at an average price of $106,662 per Bitcoin—the highest average cost per BTC in the firm’s history.
As of December 22, 2024, MicroStrategy and its subsidiaries held a total of 444,262 BTC. The combined purchase price for these holdings amounts to $27.7 billion, with an average acquisition cost of $62,257 per BTC.
Slowing the Pace of Bitcoin Purchases
This latest acquisition represents a slowdown in MicroStrategy’s recent Bitcoin buying spree. Over the past three weeks, the company purchased 42,162 BTC, valued at approximately $4 billion. The 5,262 BTC purchase accounts for only 12% of its December acquisitions.
Notably, this is the smallest Bitcoin purchase announced by MicroStrategy since June and July 2024, when the company acquired just 169 BTC. The most recent acquisition is 191% smaller than the previous purchase on December 16 and 309% less than the one on December 9.
Speculation About a Blackout in 2025
The deceleration in MicroStrategy’s Bitcoin buying comes amid market predictions of a potential downturn. Arthur Hayes, co-founder of BitMEX, has cautioned about a possible market dip following the inauguration of U.S. President-elect Donald Trump. Hayes’ investment fund, Maelstrom, has indicated plans to reduce positions and re-enter the market at lower prices.
Additionally, there are rumors that MicroStrategy might enter a “blackout period” in January 2025. Such a period would prevent the company from issuing new shares or convertible bonds to fund further Bitcoin purchases.
Michael Saylor Remains Unwavering
Despite these developments, MicroStrategy founder Michael Saylor has reiterated his unwavering belief in Bitcoin. Earlier this month, Saylor declared his intent to continue acquiring BTC regardless of its price.
“I’m sure that I will be buying Bitcoin at $1 million a coin — probably $1 billion dollars a day of Bitcoin at $1 million a coin,” Saylor stated.
MicroStrategy’s commitment to Bitcoin remains a bold bet on the future of digital assets, even as the company faces challenges and market uncertainties in the coming year.
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