MicroStrategy, fronted by outspoken Bitcoin bull and Executive Chairman Michael Saylor, added to its sizable Bitcoin holdings Monday, purchasing 21,550 BTC—or $2.1 billion worth.
The purchase is the latest in a string of Bitcoin purchases dating back to 2020 when MicroStrategy and Saylor made the strategic decision to allocate capital to the leading cryptocurrency to “maximize long-term value for shareholders.”
Since then, the business intelligence firm has reshaped itself into a Bitcoin development company and pioneered the crypto treasury reserve asset model that others have copied. It has also amassed more than 423,650 Bitcoin, making it the asset’s most significant corporate treasury reserve holder. That’s more than $40 billion worth as of this writing.
Here’s a look back at MicroStrategy’s five largest Bitcoin purchases to date and their immediate impacts on the price of Bitcoin, marked from the time of Saylor’s announcements via social media.
#1) 55,500 BTC – November 25, 2024
Average Price: $97,862
Total Spend: $5.4 billion
Michael Saylor announced MicroStrategy’s largest-ever purchase of Bitcoin, by both BTC and USD denominations, on November 25. The purchase of 55,500 Bitcoin surpassed its previous top acquisition by more than $800 million.
In the hours after the Saylor announcement, Bitcoin dropped by about $4,000 to under $94,000, a 4% decrease from the average price paid by MicroStrategy.
The latest and largest purchase by MicroStrategy (as of this writing) brings the company’s holdings to over $36 billion.
MicroStrategy has acquired 55,500 BTC for ~$5.4 billion at ~$97,862 per #bitcoin and has achieved BTC Yield of 35.2% QTD and 59.3% YTD. As of 11/24/2024, we hodl 386,700 $BTC acquired for ~$21.9 billion at ~$56,761 per bitcoin. $MSTR https://t.co/79ExzXk4UM
2) 51,780 BTC – Nov. 18, 2024
Average price: $88,627
Total spend: $4.6 billion
The second largest Bitcoin purchase in MicroStrategy history came just one week before its largest-ever purchase. Though Bitcoin dropped shortly in the hour following the announcement, a rebound followed, and it reached a daily high of $92,653, just 2% shy of its all-time high price (set last week), according to data from CoinGecko.
The following day, Bitcoin hit a new all-time high price above $94,000. MicroStrategy’s latest purchase brought its holdings to 331,200 BTC.
3) 29,646 BTC – Dec. 21, 2020
Average price: $21,925
Total spend: $650 million
MicroStrategy’s second-largest Bitcoin purchase took place in December 2020 amid rising Bitcoin prices and bull market sentiment. The firm disclosed a purchase of 29,645 BTC for its fourth-ever Bitcoin acquisition.
Despite the purchase being the largest for MicroStrategy at the time, Bitcoin price’s was relatively unchanged in the 24 hours around the announcement. Data from CoinGecko showcases a Bitcoin open price of $23,518 on December 21, closing one day later at $23,795 for a negligible gain.
4) 27,200 BTC – Nov. 11, 2024
Average price: $74,463
Total spend: $2.03 billion
Less than one week after Donald Trump was named President-elect, MicroStrategy announced a purchase of 27,200 Bitcoin. That stash was purchased during the timeframe of October 31 to November 10, a time in which Bitcoin ranged in price from $72,000 to $80,000.
However, following the Saylor announcement on the morning of November 11, Bitcoin moved violently upwards, closing the day at $88,637—a move of more than 10%—after setting yet another new all-time high price after the election.
5) 21,550 BTC – December 9, 2024
Average Price: $98,783
Total Spend: $2.1 billion
Microstrategy’s fifth largest purchase marks its highest-ever average Bitcoin price, having acquired more than 21,000 Bitcoin for nearly $99,000 on average.
The latest in its string of purchases since the November 2024 Presidential election brought up the average price of all its lifetime Bitcoin purchases to $60,389.
However, the market didn’t react super positively to the latest announcement from Saylor and the company, as the price of Bitcoin decreased by more than 2.5% in the hours that followed, dropping below the average price of its purchase to $97,600. On the following day, Bitcoin broke even further downward, dipping below $95,000 briefly before rebounding to that level.
