MicroStrategy Presses On with Bitcoin: Latest Buy at Peak Prices Raises Eyebrows
Corporate Bitcoin juggernaut MicroStrategy continues to demonstrate its unwavering commitment to Bitcoin, acquiring 5,262 BTC between December 16 and 22, 2024. The purchase, officially announced on December 23, came at an average price of $106,662 per BTC — the highest price the firm has ever paid for the cryptocurrency. This $561 million investment brings the company’s holdings to a staggering 444,262 BTC, accumulated at a total cost of $27.7 billion, with an average purchase price of $62,257 per coin.
A Slowdown in Acquisition Pace
Despite the hefty price tag, MicroStrategy has noticeably tempered its pace of Bitcoin acquisitions. December saw the firm buy 42,162 BTC in total, worth an estimated $4 billion — a figure far surpassing previous monthly tallies. Yet, the latest purchase accounts for just 12% of this total, marking a significant deceleration compared to prior weeks.
In fact, the 5,262 BTC acquisition represents the smallest purchase disclosed by the company since mid-2024, a sharp drop of 191% from the buy announced on December 16, and 309% smaller than that of December 9.
Speculations of a Strategic Shift
The tempered buying spree has sparked speculation about MicroStrategy’s future moves, particularly amid market volatility. Arthur Hayes, co-founder of BitMEX, recently warned of a potential market dip tied to the inauguration of U.S. President-elect Donald Trump. Hayes’ investment firm, Maelstrom, has hinted at plans to offload some positions and re-enter at lower prices.
Adding to the intrigue are whispers of a potential blackout period for MicroStrategy in January 2025. During this time, the company may pause issuing shares and convertible bonds used to fund its Bitcoin purchases, possibly signaling a temporary halt in accumulation.
Saylor’s Unyielding Optimism
Meanwhile, Michael Saylor, MicroStrategy’s founder and staunch Bitcoin advocate, remains undeterred. Earlier this month, he reaffirmed his commitment to Bitcoin, even at astronomical prices.
“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 boldly stated.
As 2025 looms, MicroStrategy’s actions will be closely watched, with its strategy continuing to shape the narrative around corporate Bitcoin adoption and market dynamics. Whether this slowdown marks a tactical adjustment or simply a brief pause in Saylor’s relentless Bitcoin quest, only time will tell.