MicroStrategy’s Bitcoin holdings nearing that of the U.S. government

Dec. 27, 2023

By Oluwapelumi Adejumo

MicroStrategy bought 14,620 units of Bitcoin for approximately $615.7 million in cash between Nov. 30 and Dec. 26 at an average price of $42,110 per BTC, according to a Dec. 27 Form 8-K filing submitted to the U.S. Securities and Exchange Commission (SEC).

As of Dec. 26, MicroStrategy holds 189,150 BTC, acquired for approximately $5.895 billion at an average price of $31,168 per BTC. Per the filing, the firm funded this purchase through sales of more than 1 million units of its class A common stock for $610 million during the period.

With its most recent purchase, MicroStrategy’s total BTC is now only 20,000 Bitcoin short of matching the U.S. government’s holdings at 210,429 Bitcoin. The purchase also brings the firm within striking distance of controlling a full 1% of the total supply.

The business intelligence firm’s recent acquisition follows its purchase of 6,067 BTC during the third quarter for $167 million.

MicroStrategy has been buying Bitcoin since 2020, and the company has continued with the strategy even after Michael Saylor, its founder and a notable Bitcoin bull, stepped down as its CEO. This continued acquisition has made its stock mirror Bitcoin performance, and some institutional investors have gained exposure to BTC by acquiring its MSTR shares.

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