MicroStrategy Acquires Additional Bitcoin Worth $1.1 Billion

MicroStrategy, the business intelligence firm led by Michael Saylor, has once again made a significant move into the crypto market, acquiring (BTC) worth billions of dollars.

The purchase pushed the company’s total BTC holdings to over 471,107 BTC, acquired for approximately $30.4 billion at a price of $64,511 per bitcoin. This latest purchase further solidifies the firm’s position as the largest corporate BTC holder in the world. 

12 Weeks of BTC Acquisition

MicroStrategy’s latest acquisition consists of 10,107 bitcoins, acquired at an average price of $105,596 per BTC. This marks the 12 consecutive weeks the BTC holder has purchased the asset.

Saylor’s announcement comes as the world’s largest crypto by market capitalization fell below the $100,000 price mark for the first time since Donald Trump became President. Despite the market downturn, the executive remains steadfast in his belief that BTC’s long-term value will continue to grow, viewing the asset as a hedge against inflation. 

The firm has pursued an aggressive strategy in building its BTC portfolio, beginning with a purchase of 21,454 BTC in August 2020 using company cash. Since then, Saylor has leveraged debt instruments, including convertible notes and senior secured notes, to finance his ongoing bitcoin acquisitions. 

MicroStrategy Buying Big 

Over the years, the company has presented strategies to increase its BTC acquisition. For instance, in October 2024, MicroStrategy entered into a sales arrangement called the “21/21 plan,” enabling the company to offer and sell its Class A common stock shares, with the potential to raise as much as $21 billion. Under the sales agreement, about $4.35 billion of shares are still available for issuance and sale. 

The business intelligence firm has also approved a share increase to raise capital for more crypto acquisitions. The enterprise software firm noted that it will raise its authorized Class A shares from 330 million to 10.3 billion as Saylor seeks to expand the company’s Bitcoin reserves.

On January 21, 2024, the company went bitcoin shopping, acquiring BTC worth $1.1 billion. Between January 13 and January 20, the company bought approximately 11,000 bitcoins at an average price of $101,191 per coin.

Meanwhile, in line with the recent BTC price crash, a popular American entrepreneur and BitMEX co-founder, Arthur Hayes, has predicted that the digital asset will drop to around $70,000. The executive firmly believes that once BTC hits this low point, it will surge to a new record high of $250,000 before the year ends.