MicroStrategy Won’t Stop Buying Bitcoin, Adds Another $209 Million

Make eight in a row.

MicroStrategy announced today purchasing another $209 million worth of Bitcoin, its eighth consecutive weekly purchase. The cloud computing company that became a ‘Bitcoin development company’ says it paid an average price of $97,837 to acquire 2,138 BTC.

That means MicroStrategy, already the largest corporate holder of Bitcoin in the world, now owns a total of 446,400 BTC, worth about $41 billion today.

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 US economy, Saylor seized the opportunity – and hasn’t looked back since.

MicroStrategy has been slowly buying more and more Bitcoin over the years and has recently picked up the pace. The Monday after Donald Trump’s victory on Election Day, the company announced one of its largest purchases ever, purchasing more than $2 billion worth of Bitcoin at an average price of $74,463. Another $4.6 billion valuation followed the following week, and the week after that it upped the ante again with its biggest purchase yet: $5.4 billion at one clip.

The company has continued to buy Bitcoin every week since then, with no signs of slowing down.

Saylor’s bullish moves have typically boosted Bitcoin’s price, but today’s market action has been muted so far. Bitcoin is down about 2% on the day, from a high of $94,000 today to around $91,700 at the time of writing. That’s still a long way from the all-time high of $108,135, which the coin reached just two weeks ago, but Saylor doesn’t seem concerned at all.

MicroStrategy has spent about $27.9 billion to build its Bitcoin treasury, nearly doubling its investments to date, Saylor says remembered his followers on X (formerly known as Twitter).

So what’s the game plan? When will MicroStrategy sell its BTC and start paying out these profits? Not so soon – and maybe never, if Saylor’s word is to be taken. In an interview with CNBC earlier this month, Saylor said, “We’re going to keep buying the top forever.”