Michael Saylor's Bitcoin Bet: MicroStrategy Buys Big, Vows Decades-Long Hold

Published 5 days ago2 minute read
David Isong
David Isong
Michael Saylor's Bitcoin Bet: MicroStrategy Buys Big, Vows Decades-Long Hold

The cryptocurrency market is currently characterized by an intriguing divergence where capital flows move in one direction while prices in major assets shift in another, creating a complex landscape for investors. This environment sees Bitcoin maintaining its late-November base, Ethereum showing recovery, and XRP experiencing a price dip despite significant institutional inflows. Meanwhile, meme coins like SHIB are attempting to establish stable structures for potential rebounds.

MicroStrategy, a prominent player in the crypto space, has continued its aggressive Bitcoin acquisition strategy. The company recently purchased 10,624 BTC for $962.7 million at an average price of $90,615 per bitcoin. This substantial acquisition, financed through common equity ATM offerings and STRD preferred sales, brings MicroStrategy’s total holdings to 660,624 BTC, with an average acquisition cost of $74,696 per bitcoin. This December purchase represents the largest single Bitcoin buy announced by the Virginia-based business intelligence firm in the fourth quarter, dwarfing previous tranches. Despite this mammoth purchase, Bitcoin's price initially remained just under $92,000, although it later surged past $94,000.

Executive Chairman Michael Saylor has outlined a bold vision for MicroStrategy, positioning Bitcoin not merely as an investment but as the foundational layer for a new era of digital capital and credit. Speaking at the Bitcoin MENA conference, Saylor declared the company's intent to acquire

Loading...
Loading...
Loading...

You may also like...