tl;dr
The world's largest corporate holder of BTC, MicroStrategy, has paused its acquisition of Bitcoin after a months-long spree that began following the US elections in November 2024. The company broke records with the single largest purchase of BTC and doubled its holdings to over 470,000 BTC. Despite ...
The world's largest corporate holder of BTC, MicroStrategy, has paused its acquisition of Bitcoin after a months-long spree that began following the US elections in November 2024. The company broke records with the single largest purchase of BTC and doubled its holdings to over 470,000 BTC. Despite recent market volatility and a significant drop in Bitcoin's price, MicroStrategy's holdings remain unchanged at 471,107 BTC, acquired for approximately $30.4 billion at an average price of $64,511 per Bitcoin. This pause comes as Bitcoin's price tumbled, and the company's decision is notable as it nearly doubled its BTC stash in the past few months.
The US presidential elections held in early November last year changed the complexity of the crypto game, especially for investors based in the States. MicroStrategy, which had already become a household name associated with BTC, was among those that intensified its accumulations starting on November 11 – the first Monday after the voting. After highlighting plans to raise over $40 billion within the next decade in late October, the NASDAQ-listed firm began acquiring large portions of BTC and made the announcements on the first business day of the following week.
On November 11, the company announced a massive purchase of 27,200 BTC (valued at just over $2 billion at the time), which sent its stock prices to new peaks. Aside from price movements, MSTR became a highly-tradable stock in the US market and entered the so-called (by Michael Saylor) ‘Magnificent 8’ – a group of the biggest and most recognizable American companies. After breaking its own record once again in mid-November at over $470 per share, MSTR actually started to retrace and plunged below $290 at the end of December. Despite bouncing off alongside the crypto market in mid-January, it failed to reach uncharted territory and closed on Friday at $335. Its price is expected to drop today when the markets open due to the overall crash. Nevertheless, this volatility didn’t deter the company from raising more money and accumulating additional BTC. In fact, its streak continued for 12 consecutive weeks.
The biggest single acquisition came on November 18 and was worth $4.6 billion at the time. It allowed MicroStrategy to purchase 51,780 BTC. Crypto Twitter became accustomed to Saylor’s announcements on Monday (or Tuesday in one instance) about the large BTC purchases. This week, though, he made a different statement, saying his company didn’t sell any shares of class A common stock and did not buy any bitcoin. Thus, its holdings remain unchanged at 471,107 BTC, purchased for $30.4 billion at an average price of $64,511.
It’s worth noting that MicroStrategy held 244,800 BTC in September, which means that it nearly doubled its stash within the past several months. Its pause now comes at a rather intriguing time, as bitcoin’s price tumbled during the weekend and on Monday by over $15,000 since Friday.