MicroStrategy CEO Michael Saylor Continues to Buy Bitcoin, Now Holds 331,200 BTC Worth $30B

With this latest purchase, the company — which began buying Bitcoin in August 2020 — now holds 331,200 BTC acquired for about $16.5 billion.

Bitcoin (BTC) price action hit the $90K mark on Dec. 23, continuing a strong rally that began in the second half of 2024. A key driver behind this rally has been large-scale Bitcoin purchases by business intelligence firm MicroStrategy.

After announcing a 27,200 BTC purchase on Dec. 15, MicroStrategy filed another Form 8-K with the United States Securities and Exchange Commission on Friday, revealing its latest Bitcoin acquisition. According to the filing, MicroStrategy purchased an additional 51,780 BTC for an aggregate purchase price of $4.6 billion.

These latest purchases bring MicroStrategy’s total Bitcoin holdings to 331,200 BTC, acquired at an average price of about $50,000. At the current BTC price around the $90,000 level, those holdings are now worth just less than $30 billion.

"As of December 23, 2024, the company had beneficially acquired a total of 331,200 bitcoins at an aggregate purchase price of approximately $16.5 billion and an average purchase price per bitcoin of around $50,000,” the filing reads.

The company also noted that its average carrying value for the BTC held was $19,850, a figure that is used for internal accounting purposes and differs from the market price or historical cost basis.

Bitcoin purchases via at-the-market share sales

To fund its latest Bitcoin purchase, MicroStrategy tapped its at-the-market share issuance program, selling roughly 13.6 million shares of its class A common stock. The shares were sold at an average price of $340.67 per share.

The company has about another $15.3 billion of stock it can sell under the current program, according to a regulatory statement released Monday morning.

MicroStrategy began purchasing BTC in August 2020 and has been a strong advocate for the leading cryptocurrency ever since. Their playbook is simple but effective: issue shares, use the proceeds to buy Bitcoin, and let the dual effect of a rising BTC price and an inflated MSTR stock value work its magic. This symbiotic strategy is paying off — MSTR shares have been a stand-out performer in 2024.

While Bitcoin was sitting at $85K, most of us were sitting around, too scared to buy, waiting for a dip that never came. Not Saylor. He is going to continue to buy, whatever the price. A lesson in there, folks.

The latest Bitcoin acquisition by MicroStrategy is its largest, accounting for more than 16% of all BTC held by the company. According to data from CryptoQuant, the 51,780-BTC purchase is the largest Bitcoin purchase on record by MicroStrategy.

"This latest purchase also marks the largest on record for MicroStrategy, which began purchasing Bitcoin in August 2020 and has since become the biggest institutional holder of the leading cryptocurrency,” the CryptoQuant analysis noted.

Bitcoin institutional adoption and reserves

As the largest institutional Bitcoin holder, MicroStrategy’s actions and strategies are closely followed by both traditional finance and cryptocurrency markets. The company's large-scale Bitcoin purchases have also contributed to conversations surrounding Bitcoin adoption among institutional investors.

Data from BitcoinTreasuries shows that MicroStrategy is the largest institutional Bitcoin holder, followed by Tesla and Galaxy Digital. Together, these three entities hold about 20% of the total BTC supply, according to the platform.

"Institutions are slowly waking up to the Bitcoin narrative, and several are now announcing BTC purchases or discussing the possibility of adding it to their portfolios,” a recent analysis from BitcoinTreasuries stated.

"However, institutional adoption is still in its early stages, and a massive wave of buying could propel Bitcoin to new all-time highs in the coming years."