MicroStrategy Buys Bitcoin For 8th Straight Week

MicroStrategy announced it acquired an additional $209 million worth of Bitcoin for the 8th straight week

Written by: Olumide Adesina • Wednesday, January 1, 2025 • 1 min read

• Last updated: Wednesday, January 1, 2025

MicroStrategy announced it acquired an additional $209 million worth of Bitcoin for the 8th straight week.

The cloud computing company that shifted to “Bitcoin development” claims that it purchased 2,138 BTC for an average price of $97,837. This purchase adheres to MicroStrategy’s long-term vision

MicroStrategy, the biggest corporate Bitcoin owner globally, now holds 446,400 BTC, valued at about $41 billion. Michael Saylor the company’s founder and executive chairman, started buying Bitcoin for MicroStrategy’s treasury following the pandemic-induced market crash.

MicroStrategy issued and sold roughly 592,987 shares to finance the acquisition, demonstrating its capacity to raise capital to support its objectives.

The business exhibits an adaptable financial strategy that sustains significant investments while protecting its assets. This action demonstrates the company’s dedication to maintaining its dominant position in this market amid market volatility.

However, it suggests a substantial decrease in deal sizes compared to previous months’ acquisitions. The firm had indeed amassed over 100,000 BTC in November, a deviation that raises questions about the transformation of its financial objectives. Michael Saylor, the executive chair, remains steadfast in his convictions. In a recent statement, he announced, “Regardless of the price, we will continue to buy.” He underscores MicroStrategy’s resolve to uphold its position as a leading institutional entity.

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ABOUT THE AUTHOR See More

Olumide Adesina

Financial Market Writer

Olumide Adesina is a French-born Nigerian financial writer. He tracks the financial markets with over 15 years of working experience in investment trading.