Saylor: MicroStrategy Bitcoin purchases will continue

Michael Saylor announced that MicroStrategy had purchased over 2,000 BTC on December 30th and continued a broad Bitcoin acquisition strategy. This could be the company's last acquisition of 2024.

Despite the new turmoil in the crypto market, the company continues to make major acquisitions, further fueling speculation of a changed strategy in 2025.

Micro strategy buys more bitcoins

According to SEC filings, MicroStrategy spent $209 million on today's bitcoin purchases, paying more than $97.8 million in BTC. It was the fifth purchase of December, and in particular, this is the eighth straight week that the firm has made a series of BTC purchases.

However, this was not a surprise, as Michael Saylor said in early December that the company would pursue an acquisition of the world's largest exchange. Saylor advised investors to adopt dollar-cost averaging (DCA) and invest in Bitcoin quarterly.

However, today's purchase makes MicroStrategy the largest holder of bitcoin among publicly listed corporations.

“MicroStrategy bought 2,138 BTC for ~$209 million at ~$97,837 per bitcoin. BTC gained 47.8% QTD and 74.1% YTD. Since 12/29/2024, 446,400 BTC has been acquired for ~$27.9 billion at ~$62,428 per bitcoin. We will handle it,” said Salor on social media A media post said.

Last week, the company bought $561 million worth of BTC after Saylor made the US Bitcoin Reserve public. As the company called a shareholders meeting last week to discuss possible changes to the equity offering, the company is sticking to its strong Bitcoin stock strategy.

Basically, Saylor wants MicroStrategy to issue more shares, so that the proceeds can be used for further acquisitions. However, recent Bitcoin outflows and returns have been a concern. This may be why the latest purchases are less expensive compared to the earlier purchases in November and December.

Saylor's advances may come to a halt in January.

Experts are speculating that the leading cryptocurrency may hit major price resistance and become a bear market. There are also rumors that MicroStrategy will pause Bitcoin purchases in January.

The firm's share price has indeed exceeded the growth of Bitcoin in the past year, but this can present a double-edged sword. Microstrategy has been heavily oversubscribed in Bitcoin, fueling further purchases using debt, equity sales and 0% convertible bonds. However, this “all-in-one” strategy makes the company more vulnerable to market volatility.

If anything, MicroStrategy is doubling down on Bitcoin investment. Yesterday, Saylor publicly hinted at some new moves on the BTC front, but hinted at another big buy, not a breakout.

The new year is upon us, and there are a few precious signs of January break. If a real stop is to take place, Saylor needs a signal very soon.