Make that eight in a row.
Microstrategy today announced the purchase of an additional $209 million worth of Bitcoin, its eighth consecutive weekly buy. The cloud computing firm turned “Bitcoin development” company says it paid an average price of $97,837 to acquire 2,138 BTC.
That means Microstrategy, already the world’s largest corporate holder of Bitcoin, now owns a total of 446,400 BTC, today worth roughly $41 billion.
The company’s founder and executive chairman Michael Saylor first began acquiring Bitcoin for Microstrategy’s treasury in 2020 following the pandemic-induced market crash in March of that year. As the Federal Reserve prepared to inject trillions into the U.S. economy, Saylor seized on the opportunity—and hasn’t looked back since.
Slowly buying more and more Bitcoin over the years, Microstrategy recently picked up the pace. The Monday following Donald Trump’s win on Election Day, the company announced one of its biggest buys ever, snapping up more than $2 billion of Bitcoin at an average price of $74,463. It followed up with another $4.6 billion worth the next week, and then upped the ante again the week after that with its biggest single buy yet: $5.4 billion in one clip.
The company has continued buying Bitcoin every week since, with no sign of slowing down.
Saylor’s bullish moves have typically buoyed Bitcoin’s price, but market action today has so far been muted. Bitcoin is down roughly 2% on the day, from a high of $94,000 today to around $91,700 as of this writing. That’s a long ways off from its all-time high of $108,135, which the coin hit just two weeks ago, but Saylor doesn’t appear at all worried.
Microstrategy has spent approximately $27.9 billion to build its Bitcoin treasury, nearly doubling its investment so far, Saylor reminded his followers on X (formerly known as Twitter).
So what’s the game plan? When will Microstrategy sell off its BTC and start cashing out on those gains? Not any time soon—and maybe not ever, if Saylor can be taken at his word. In an interview with CNBC earlier this month, Saylor said: ”We’ll just keep buying the top forever.”
