MicroStrategy, the largest corporate Bitcoin holder, kicked off the new year by acquiring an additional 1,070 BTC during the final two days of 2024.
On January 6, the company disclosed that it had spent approximately $101 million in cash on December 30 and 31, 2024, to complete the purchase.
According to a filing with the United States Securities and Exchange Commission (SEC), the acquisition was made at an average price of roughly $94,004 per Bitcoin.
Total Bitcoin Holdings Reach 447,470 BTC
With this latest transaction, MicroStrategy’s total Bitcoin holdings now stand at 447,470 BTC. As of January 5, these holdings were acquired for approximately $27.97 billion at an average price of $62,503 per Bitcoin. The company’s stash accounts for about 2.1% of Bitcoin’s total supply.
As with previous purchases, this acquisition was funded through proceeds from the sale of shares under a convertible notes sales agreement, a strategy the company has used repeatedly to bolster its Bitcoin portfolio.
Hints of a Purchase Ahead
MicroStrategy’s co-founder, Michael Saylor, teased the move before it became public. On January 5, Saylor shared a Bitcoin price chart from the SaylorTracker website, hinting at the imminent acquisition.
Buying Momentum Slows Down
The company’s recent purchase reflects a tapering in its Bitcoin buying activity despite the cryptocurrency reaching new record highs in December 2024.
Between December 2 and 31, 2024, MicroStrategy accumulated 45,370 BTC, which represents just 30% of its total Bitcoin acquisitions made during the prior two months from October 31 to December 1.
This slowdown comes amid market uncertainty, with industry experts like BitMEX co-founder Arthur Hayes cautioning about potential crypto market fluctuations linked to the inauguration of U.S. President-elect Donald Trump.
Additionally, reports have speculated that MicroStrategy may implement a blackout period in January 2025, potentially pausing its issuance of shares and convertible bonds to fund further Bitcoin acquisitions.
Plans for Future Bitcoin Purchases
The company’s latest buy follows its announcement of plans to raise $2 billion through a perpetual preferred stock offering, with the proceeds earmarked for further Bitcoin purchases. However, MicroStrategy noted that this offering remains subject to market conditions and internal decisions.
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