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In summary1) 51,780 BTC – November 18, 20242) 29,646 BTC – December 21, 20203) 27,200 BTC – November 11, 20244) 21,454 BTC – August 11, 20205) 19,452 BTC – February 24, 2021Daily Debrief NewsletterCrypto Keynote USA In summary
- MicroStrategy acquired 51,780 BTC on November 18, 2024 for $4.6 billion, marking its largest purchase to date. This purchase increased his holdings to 331,200 BTC, worth over $30 billion.
- The second largest purchase was 29,646 BTC in December 2020 for $650 million, although its impact on the price of Bitcoin was minimal at the time.
- The third largest purchase was 27,200 BTC on November 11, 2024, for $2.03 billion, which caused a significant increase in the price of Bitcoin.
MicroStrategy, led by eloquent CEO and Bitcoin enthusiast Michael Saylor, increased its considerable Bitcoin holdings on Monday by purchasing 51,780 BTC—for a price of $4.6 billion.
The purchase is the latest—and largest—in a series of Bitcoin purchases dating back to 2020, when MicroStrategy and Saylor made the strategic decision to allocate capital to the market’s leading Cryptocurrency to “maximize long-term value.” for shareholders.”
The business intelligence firm has since transformed into a Bitcoin development company and pioneered the cryptocurrency treasury reserve asset model that others have copied. It has also accumulated more than 331,200 Bitcoin, becoming the largest corporate holder of treasury reserves of the asset. That equates to more than $30 billion, as of this writing.
Here’s a look at MicroStrategy’s five biggest Bitcoin purchases to date, ranked by the amount of BTC (not the US dollar value) and their immediate impacts on the price of Bitcoin, marked from the time of Saylor’s announcements. through social networks.
1) 51,780 BTC – November 18, 2024
Average price: $88,627
Total spending: $4.6 billion
The largest Bitcoin purchase in MicroStrategy’s history is the most recent, as of this writing, announced Monday by Saylor. Although Bitcoin fell briefly in the hour following the announcement, a rebound followed and hit a daily high of $92,653, according to data from CoinGecko.
The next day, Bitcoin hit a new all-time high price above $94,000. MicroStrategy’s latest purchase increased its holdings to 331,200 BTC, worth more than $30 billion at the current price.
2) 29,646 BTC – December 21, 2020
Average price: $21,925
Total spending: $650 million
MicroStrategy’s second-largest Bitcoin purchase took place in December 2020 amid rising Bitcoin prices and bullish market sentiment. The company revealed a purchase of 29,645 BTC for its fourth Bitcoin acquisition.
Even though the purchase was the largest for MicroStrategy at the time, the price of Bitcoin remained relatively unchanged in the 24 hours around the announcement. Data from CoinGecko shows Bitcoin opening price of $23,518 on December 21, closing a day later at $23,795 for a negligible gain.
3) 27,200 BTC – November 11, 2024
Average price: $74,463
Total expenditure: $2,030 million
Less than a week after Donald Trump was named President-elect, MicroStrategy announced a purchase of 27,200 Bitcoin. That reserve was purchased during the period from October 31 to November 10, a time when Bitcoin ranged in price between $72,000 and $80,000.
However, following Saylor’s announcement on the morning of November 11, Bitcoin moved wildly higher, closing the day at $88,637, a move of more than 10%, after setting a new all-time high price following the election.
4) 21,454 BTC – August 11, 2020
Average price: $11,652
Total spending: $250 million
MicroStrategy’s fourth-largest Bitcoin purchase of all time was its first purchase with the lowest average price on record to date.
In the wake of social restrictions and macroeconomic impacts of the COVID-19 pandemic, Saylor rationalized his purchase of the company by saying: “Our decision to invest in Bitcoin at this time was driven in part by a confluence of macroeconomic factors affecting the economic and business outlook that we believe is creating long-term risks to our corporate treasury program, risks that must be proactively addressed.”
While the purchase has aged well, now up nearly 700% at the current Bitcoin price, the initial announcement meant little for the price of Bitcoin, which opened on August 11, 2020 at $11,682 and closed the next day at $11,579, after an insignificant decrease.
5) 19,452 BTC – February 24, 2021
Average price: $52,765
Total expenditure: $1,026 million
Until this year, MicroStrategy’s largest dollar-denominated Bitcoin purchase was announced on February 24, 2021 when it purchased 19,452 BTC for just over $1 billion.
That billion-dollar boost came less than a week after Bitcoin surpassed $50,000 for the first time, and days after it posted a new all-time high of more than $57,000.
While other major MicroStrategy purchases and announcements have resulted in strong gains or negligible moves, the purchase announcement on February 24, 2021 corresponded with a more notable decline. Bitcoin opened that day at $48,692 and closed the next day at $46,993, according to CoinGecko, marking a 3.5% decline.
Edited by Andrew Hayward
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