MicroStrategy, the biggest corporate Bitcoin holder, announced a fresh purchase of 1,070 BTC made in the last two days of 2024.
The company revealed the purchase on Jan. 6, stating that it spent about $101 million in cash on Dec. 30–31, 2024.
The acquisition was made at an average price of roughly $94,004 per Bitcoin BTC $101,022 , according to a filing with the United States Securities and Exchange Commission.
MicroStrategy has not made additional Bitcoin purchases since Dec. 31, as noted in its current Form 8-K filing.
MicroStrategy now holds 447,470 BTC
Following its latest acquisition, MicroStrategy holds 447,470 BTC, acquired for around $27.97 billion at $62,503 per BTC as of Jan. 5. The amount accounts for 2.1% of all Bitcoin that will ever be mined.
Similar to previous MicroStrategy Bitcoin buys, the latest acquisition was made using proceeds from the issuance and sale of shares under a convertible notes sales agreement.
The purchase came shortly after MicroStrategy co-founder Michael Saylor hinted at the upcoming BTC purchase by posting the Bitcoin chart from the SaylorTracker website on Jan. 5.
Continued slowdown in buying BTC
MicroStrategy’s latest Bitcoin acquisition highlights a slowdown in its buying activity, even as the cryptocurrency hit new all-time highs in December 2024.
Between Dec. 2–31, 2024, MicroStrategy bought a total of 45,370 BTC, which accounts for only around 30% of all Bitcoin purchases made between Oct. 31 and Dec. 1.
The slowdown came amid prominent industry figures like BitMEX co-founder Arthur Hayes cautioning against a drop in crypto markets potentially stemming from the upcoming inauguration of US President-elect Donald Trump.
Some reports also suggested that MicroStrategy may enter a blackout period in January 2025, which would halt the issuing of shares and convertible bonds to purchase more BTC.
The latest MicroStrategy’s Bitcoin buy comes shortly after the company announced plans to raise $2 billion from a perpetual preferred stock offering to buy more Bitcoin.
The decision whether to proceed with the offering is in MicroStrategy’s sole discretion and is subject to market and other conditions, the firm noted.
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