MicroStrategy Keeps Stacking Sats

With this latest purchase, the company — which began buying Bitcoin in August 2020 — now holds 331,200 BTC acquired for about $16.5 billion. At the current price surrounding the $90,000 level, those holdings are worth just less than $30 billion. 

Source: Michael Saylor

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.

That’s right 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.

Source: CryptoQuant

To fund this latest purchase, MicroStrategy tapped its at-the-market share issuance program, selling roughly 13.6 million shares for $4.6 billion. 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.

Just one week ago, the company announced it had purchased 27,200 bitcoin for $2 billion, thus putting buys over the past few weeks to about 72,000 BTC for $6.6 billion.

Michael Saylor tweeted a website that tracks MicroStrategy’s Bitcoin Holdings. Source: X

Founded in 1989, MicroStrategy is currently the largest institutional Bitcoin holder globally, according to data from BitcoinTreasuries.

Source: BitcoinTreasuries

In his presentation at a Cantor Fitzgerald conference, Michael Saylor discussed the economic challenges posed by monetary inflation and proposed Bitcoin as a solution, explaining the Geopolitical Logic of the Strategic Bitcoin Reserve