MicroStrategy acquires 2,138 BTC for $209 million, boosting its Bitcoin holdings and influencing market trends, led by Michael Saylor.
In a significant move, MicroStrategy has acquired 2,138 BTC for $209 million, with an average price of $97,837 per Bitcoin. This recent purchase has resulted in a BTC yield of 47.8% quarter-to-date (QTD) and 74.1% year-to-date (YTD). As of December 29, 2024, MicroStrategy’s total bitcoin holdings reachable by December 29, 2024, is 446,400 BTC, acquired for $27.9 billion at an average price of $62,428 per bitcoin.
Michael Saylor CEO of Micro Strategy took to his regular Sunday post to share an update to his BTC purchase tracker. “He tweeted from his official X account to his 3.9 million social media followers that it was ‘disconcerting blue lines on SaylorTracker.com.’ The update has become a ritual for Saylor and there is a lot of market attention it gets. Many market participants also expect MicroStrategy to buy another batch of Bitcoins in the near future, which could affect Bitcoin prices.
The speculation from that recent post is that MicroStrategy could soon buy more BTC. The signals of the tracker suggest buying activity is up, which might provide additional support to Bitcoin’s price. As a result, market sentiment predicts Bitcoin’s spot price could stay fixed in the short term but might start to rise from February 2025.
MicroStrategy Bitcoin Holdings Strengthen Its Influence in Crypto Market
MicroStrategy also made another purchase of great importance: 5,262 BTC for approximately $561 million on December 23. This follows the company’s ongoing strategy of purchasing Bitcoin on a regular basis. Saylor has used his company’s approach as a model for others, including encouraging global companies to take the same direction.
But Saylor’s support for Bitcoin has been growing through the years. He’s a consistent advocate for the world’s biggest cryptocurrency and pushes other large companies to also look into adopting Bitcoin on their balance sheets. He has even demanded tech giants such as Microsoft to implement this strategy, as he believes that Bitcoin could be used as an investment that holds long term value and security.
MicroStrategy’s Bitcoin buying strategy and Saylor’s endorsement of the same continue to play its part in the market. Although the company still holds a large quantity of Bitcoin, the more the company holds, the more influence it retains within the cryptocurrency space. The actions of MicroStrategy are likely to be closely watched by both investors and market analysts, who could help determine the future price of Bitcoin.
