Michael Saylor announced yesterday (30) that MicroStrategy purchased more than 2,000 BTC on December 30, continuing a broad Bitcoin acquisition strategy. This is potentially the company's last purchase in 2024.
The company has continued to make large purchases despite renewed turmoil in the crypto market, raising speculation of a strategy shift in 2025.
MicroStrategy buys more bitcoin
According to the SEC filing, MicroStrategy spent $209 million on today's Bitcoin acquisition, paying more than $97,800 per BTC. It was the fifth purchase of December and, in fact, this is the eighth consecutive week that the company has made consecutive purchases of BTC.
However, this did not come as a surprise, as Michael Saylor said earlier in December that the company would increase its acquisition of the world’s largest exchange. Saylor even advised investors to adopt dollar-cost averaging (DCA) and invest in Bitcoin every quarter.
Still, today's acquisition further extends MicroStrategy's lead as the largest holder of Bitcoin among publicly listed corporations.
MicroStrategy acquired 2,138 BTC for ~$209 million at ~$97,837 per bitcoin and achieved a BTC yield of 47.8% for the quarter and 74.1% for the year. As of 12/29/2024, we own 446,400 BTC acquired for ~$27.9 billion at ~$62,428 per bitcoin, Saylor said in a social media post.
Last week, the company purchased $561 million worth of BTC after Saylor publicly advocated for a U.S. Bitcoin Reserve. The company remains steadfast in its aggressive Bitcoin accumulation strategy, as Saylor called a shareholder meeting last week to discuss potential changes to its share issuance.
Essentially, Saylor wants MicroStrategy to issue more shares, the proceeds of which can be used for further purchases. However, Bitcoin’s recent sell-offs and pullbacks have been a concern. This is potentially why the latest purchases were of smaller value compared to previous purchases in November and December.
BTC Price Performance. Source: BeInCrypto
Saylor's aggressive acquisitions could pause in January
The leading cryptocurrency has hit significant price resistance, and experts are projecting that a bear market is likely. There are also rumors that MicroStrategy will pause its Bitcoin purchases in January.
The company’s stock price has actually outpaced Bitcoin’s growth over the past year, but this could be a double-edged sword. MicroStrategy is significantly overweight in Bitcoin, using tools such as debt, equity sales, and 0% convertible bonds to drive more purchases. However, this all-in strategy makes the company more vulnerable to market volatility.
If anything, MicroStrategy is just doubling down on its Bitcoin investment. Yesterday, Saylor publicly hinted at some new action on the BTC front, but he suggested another big buy, not a pause.
The new year is almost here, and there are few signs of a lull in January. If a real halt is going to happen, Saylor will need to signal it very soon.
The article MicroStrategy buys $209 million in BTC on New Year’s Eve appeared first on BeInCrypto Brasil.
