MicroStrategy Seizes Bitcoin Dip With $2.1B Purchase

Key Takeaways

• MicroStrategy brings total holdings to 423,650 BTC.
• The firm has invested $26 billion in Bitcoin and now sits on a $15 billion profit.
• Its aggressive 21/21 plan aims to purchase $42 billion in Bitcoin over three years.

MicroStrategy has once again made headlines with its audacious Bitcoin (BTC) acquisition strategy, purchasing an additional 21,550 BTC for $2.1 billion .

The buy, completed at an average price of $98,783 per Bitcoin, underscores the company’s unyielding belief in Bitcoin’s long-term potential despite its volatile price movements.

The company now holds 423,650 BTC, acquired at an average price of $60,324 per Bitcoin, totaling approximately $25.6 billion.

With the current valuation hovering around $41 billion, MicroStrategy’s bold Bitcoin bet has netted the firm a profit of over $15 billion.

Burning Through the 21/21 Plan

The latest $2.1 billion Bitcoin purchase is part of MicroStrategy’s ambitious “21/21 plan.”

Announced in late October, the firm looks to buy $42 billion in Bitcoin over the next three years.

This plan has already seen the firm deploy over $15 billion in just one month —nearly 150% of its total spending from the past three years combined.

Michael Saylor, the company’s executive chairman and a prominent Bitcoin advocate, has been steadfast in his strategy.

Despite critics questioning the risks of such concentrated exposure, Saylor has repeatedly affirmed the company’s commitment to raising capital through equity and debt offerings to fuel Bitcoin acquisitions.

MicroStrategy BTC purchase history. Source: Bitbo Treasuries.

Leading the Institutional Bitcoin Wave

MicroStrategy’s bold strategy has inspired a wave of institutional Bitcoin adoption.

The company’s early moves during the 2020-21 bull cycle influenced major players like Tesla and SpaceX, which subsequently added Bitcoin to their balance sheets.

As of 2024, 91 publicly listed companies now hold Bitcoin as part of their treasury, collectively benefiting from the dual effect of rising Bitcoin prices and soaring stock valuations.

MicroStrategy’s stock, for instance, recently hit a new all-time high after nearly two decades , echoing a similar trend among other BTC-holding firms.

Big Tech giants like Apple, Microsoft, and Amazon are also now considering to buy Bitcoin.